Hello all,I am finishing my Junior year at Michigan State University studying Hospitality Business.

Going into a junior lien position on a property where the owner doesn’t like to pay the first sounds like a foolish choice.

Should being in a junior position simply be a deal breaker for me?

You'll need to structure your offer $10k or so lower than your max price, and plan on chipping that $10k in to settle the differences between what the 1st will/can pay toward the junior liens verses what they are willing to accept.

I think you answered your own question.. either way as a hold or beneficiary of the note. if there is this TRUE equity.. the only way you tap into it is a DILa public auction will 99% chance get bought 3P  and you would simply be owned what ever your note called for plus costs. balance would go to junior lenders or creditors and if none then the owner.

Hello everyone,I have read many posts .. if not all for the last month or so .. but still quite not comprehend why banks are listing REO properties at market value ( at least in State of California ) eventhough I have seen some of these properties had defaulted loan amount plus the added costs of junior liens and legal fees included .. still much less than the listing price.In California, is it true if the bank sell the REO properties above the default loan values + legal costs and junior liens .. the excess amount will go back to the original mortgagor ?

@Junior Salters I am currently attempting to purchase a fire damaged duplex right now.  

I am a highly motivated junior year civil engineer looking to offer my services for this spring or summer.

I'm Tan, a junior college student interning in San Francisco.

I'm not you, and i'm not the junior but...If I were the 2nd lien holder, I would LOVE for you to take the property subject to.