The property are foreclosured for two default mortgages( a senior and a junior).

Make them an offer that works for you, but tell them you can only make the deal work if the junior lienholders accept a lesser payment.

Junior lien holders, absent subordination agreements, are wiped OFF, but the debt remains.

Best Junior

The ITS lien gets wiped out, just like any other junior lien, at the foreclosure.  

@Junior Soares Thank you for chiming in. 

And you could also sell a partial as well, this way your capital isn't as tied up and you can still cash flow off the note; just like leveraging a house.To buy a note with no money down, you could create a partial or do a collateral assignment at the time of purchase.Also keep in mind some notes are more affordable than others (like junior liens or notes without equity) so it all depends what your business model is.Best,DaveP.S.If you don't have a ton of capital to start, you can also check out Lendingclub.com.

I'm currently a junior in college looking to begin learning and investing in real estate.

If your phone went off, you had to come up to the stage and do the chicken dance—that is junior high behavior and many of us did not consider it funny.All in all I WOULD NOT recommend this 3-day ordeal to anyone.

Example of a few emotional triggers:Anger - "I want to sell but junior won't get out so I'd like someone else to deal with he and his lazy, pregnant girlfriend"Fear - "if I leave this house vacant, what if someone gets hurt and sues me?"