If the first position forecloses, the second is then wiped out at the foreclosure auction (and the second lien holder will therefore have to bid to protect their interest in the collateral that is at risk here).

I am buying for 2k and have a payment agreement set up with the tax lein holder for 15% down and payment plan for the rest. not a bad deal

The individual went to court to get his money out and was told that since it was in the general account it had to be dispersed to all stock holders and creditors - not back to him.

James short sales can take a very long time and there are junior lien holders usually that are a pain in the butt.Much more lower hanging fruit that tastes just as sweet.

Let the flippers flip, let the buy-and-holders buy and hold.

If you have long term fixed-rate financing and rates skyrocket, then the bank/bond holders would have a great incentive to have their servicers search out these situations and call these loans.

The details depend on state law, but generally junior liens get wiped out.Here in CO, junior lien holders have a 15 day redemption period.

With that said I have purchased most of my CRE backed notes directly from the note holder

There are ways of doing either or both.When I appraised notes and installment contracts for the government (to assess the note holder eligiblity for benefits and assessing the net worth of the applicants) such appraisals can not be made without collateral inforamtion.

Seller is Currently approved for short sale but title search shows $275,000 of judgments against owner who is about to go bankrupt. has anyone had success with vacating judgments, and can buyer settle with judgment holders to vacate the lean but still retain the right to go after the seller if they want to?