Lets say i make an offer with a POF/LOI to the holder of a property (bank).

The home is just over 2 years old with one original owner who paid $440k in October 2007.I do not know how much the 2nd mortgage holder was compensated to release the lein.

If you're making payments to the seller and hoping he or she is making them to their mortgage holder, you're asking for trouble.

While a tax lein will wipeout most other liens, there are various requirements for notification of current lien holders.

They will not approve a short sale which leaves the 2nd mortgage holder at arounf 45 % payoff.

In reference to the last comment about the 2nd paying off the 1st, if the 2nd lien holder wants to protect their interest on their secured lien they can reinstate the 1st, foreclose and take title to the property, subject to the first mortgage (as long as it's not in redemption) just like you plan to.

For Limits: Each Occurrence $300,000 Damage to rented premises is blank Med Exp (any on person) $1000 Personal & Adv Injury is blank also General Aggregate $1,000,000 Products - Comp/Op Agg $1,000,000 I am named as the certificate Holder.

It simply credits the accounts of the bond holders with a few taps of a computer keyboard.

So even if Wells Fargo that own the 1st, agrees to the deal, the holder of the second have the right to foreclose if there is not enough money to cover the second within that deal.To reply to post, scroll down to "quick replay" or "advance reply" on the bottom right.

If you are the note holder and have a deed of trust, contact the trustee named in the deed, that's why they are listed on the deed.