@Salvatore Lentini What's stopping me, is a Bankruptcy I had when I was younger, I have 1 year left until BK falls off my credit report, I've been working on paying off all debts.

@Kris KempeFirst position is fully securedSecond position only gets paid after the first position and their is the potential to get 100% wiped out if the borrower files bankruptcy and there is potentially no equity in the home 2nd position is significantly greater risk

I tried flipping houses years ago, it went poorly, everything was in my name and had to file bankruptcy, so now I'm looking to get back in the game and have formed an LLC to cover myself should something go awry.

In the last real estate crash, Stockton, CA, was struck hard and the city filed for bankruptcy. 

Some get postponed, some get stayed, some the upset price is too high, some the paperwork for notices was not sent properly, some Bankruptcy and some other reasons. 

You'll get you money back with interest.In bankruptcy there are a few higher priority liens like federal debts, child support, trustee and attorney costs, best to check with your attorney.

They gave me the number to the law firm representing the bankruptcy and I'm communicating with them now but..

Qualified education loans aren't dischargeable through bankruptcy; so you will need to pay it off at some point, and it will remove a lot of mental baggage once it is paid off.

The bank will only deal with the borrower of record unless the borrower sends a letter to the bank authorizing you to speak on their behalfIf the auction is 5 days out the lender is not going to to cancel the foreclosure unless the borrower comes up with a substantial down payment - this is a common issue we see is the process gets to the finish line and borrowers think now is the time to negotiate - waiting is the worst thing a borrower can do because the lender has spent the legal costs and is now 5 days away from getting paid off or control of property - there is no longer any incentive The only other option at this point is to file bankruptcy.

It seems like potential "Shark Bait" in a legitimate injury suit, especially if the owner has exposed assets.Or can you just legally dissolve it without a bankruptcy and take it off the judicial table regarding piercing or being an "alter ego".Scott Mac...