Depending on the state, the 2nd may lose everything at the FCL sale for the 1st, but they may retain their right to collect on the balance.

Many locations allow for double or triple damages for improperty retained security deposits.

You will need a durable power of attorney to give directions to any servicer and trustee of the deed of trust.I will mention a subject to, where you father retains his note and you wrap his note with a new note and provide a Special Warranty Deed subject to his note, this keeps him in play on the deal, he should be named as a loss payee on the insurance and I suggest you do a modification as to interest.

Alot of my commercial brokerage came out of banks who had millions outstanding to one entity or borrower, they would send me the deal, I'd get it funded, the bank would retain servicing and fund at the table and pass it through to the other lender, not a participation but it would appear that the original bank did the deal.

If you do retain an attorney, make sure they specialize in landlord/tenant law, not divorce, adoptions, or personal injury.

Di P's suggestion wouldn't work here.Is this Power of Attorney something I should do before or after retaining a buyer or a closing attorney?

Get and retain a good criminal lawyer.

So, I try to focus a lot of attention on retaining my tenants since we have a good raport.

They could just as easily form an LLC and hire out "bird-dogs" to perform the labor - retaining all of the net profit.

Again not sure what the property value is but you may have a demand that exceeds the property value and thus the minimal bid might deter a buyer at auction.The deal will boil down to the asking price DB wants and whether that affords you enough discount to make the needed advances to finish the FCL and protect the property.You will need a foreclosing attorney, in some cases you can retain the already hired attorney but that is not always the best idea if the foreclosure is stagnite.