BTW, transfer taxes might be due as well, and they are based on the FMV calculated exactly the same way; I say might because lenders at foreclosure have an exemption for transfer taxes, and in most cases it is the full property value - though it won't be the full property value for junior liens that are foreclosing.

I have been in volved with many many of these but the redemption rights were far more than the property was worth so no one in their right mind would redeem.. also not sure if its like our area but if they did redeem all other junior's re attached.. anything that was wiped out in the foreclosure sale comes back.Reality is this never happens in that market at those price points the folks that lost the house are long gone.. not nearly sophisticated enough don't have the money etc etc.that's my take on it.. if you can buy a bond that protects you and the seller pays for it.. just check out exactly what the bond covers .

Medical is big here with 3 large hospitals as well as Education with the very popular Tyler Junior College, a branch of UT (Ut Tyler Campus), as well as Texas College.

An owner is only entitled to a surplus above the total debt, not some arbitrary "starting bid", and assuming there are no junior lien holders.

Good evening, my name is Junior Saint Preux from Orlando, FL.

Pierre Decoste And as far as coaching goes, I help out at golf clinics and help with a local junior golf league/camp.

Let me explain my situation:I am currently entering my junior in college.

I was wondering if anyone has any hands on experience working with a bank to pay off the first lien on a property after they have bought a property at a foreclosure on a junior lien.

If i can't, how do i know all of the junior liens have been notified and the proper process followed?

I leased to juniors and seniors, good families and they usually brought me their friends to lease it as they were moving out....very low vacancy, sometimes they cleaned the units as they moved in!