Northern Santa Barbara County, California.....The only thing you can get in this area are 2/1-2/2 mobile/modular homes in a senior park and 2/1- 1/1 lower end condos, typically.

If noone else bids then it is sold bank to the bank at the opening price.The senior lien lender usually will not make any other bids besides the opening price.

...I'll venture a guess here - the HOA liens are not in the most senior lien position, so when the HOA forecloses there is an underlying mortgage (or multiple mortgages) still in place, on what is probably an underwater property ...

Sometimes I have seen 80% but purchase cap rate has to be way higher to compensate with DSCR numbers because lenders give much higher interest rate for higher LTV because it is more risk for them on the senior note.Sometimes a lender will allow a second if THEY finance the second note.

You might consider combining lists for your initial campaign - for instance use both Absentee Owners with Equity and Seniors with 20+ Year Ownership.

Mind you this is written from a citizen's point of view.

We have a new class of citizen in the US these days...

All,I'm planning on bidding on a property at Sheriff's sale in September that has the following liens:$540,000 senior mortgage$21,000 unpaid municipal taxes.  

Hi BP, So Im a senior about to graduate.

There are additional FHA loan programs available for seniors and individuals who are looking to buy manufactured or mobile homes.