Hi Community,I am looking at a property which is foreclosed.It had below events on property:1\1\1999 Deed of trust -- Owner1 -- ABC Mortgage1 (Subsequently Released)1\1\2000 Deed of trust --Owner1 -- XYZ Mortgage 2\1\2000 Release --Owner1 --ABC Mortgage11\1\2002 General Warranty Deed With Vendor's Lien Owner1 GrantorOwner2 GranteeNote: Document also mentions about DEF Mortgage being first Lien mortgage1\1\2002 Deed of Trust --Owner2 --DEF Mortgage Appointment of substitute trustee on DEF Mortgage to Owner2Considering above events on property will the XYZ Mortgage of owner1 wipe out when the foreclosure auction happens on "Owner2 --DEF Mortgage" ?

But what I have in for review by my attorney is the Fannie Multistate Note, Form 3200 with the following clause substituted for the basic Number 8:-----8.

Any help appreciated.ThanksBROCK & SCOTT, PLLC 484 VIKING DRIVE, SUITE 203BROCK & SCOTT, PLLC 484 VIKING DRIVE, SUITE 203VIRGINIA BEACH, VA 23452SUBSTITUTE TRUSTEES' SALE OF VALUABLE FEE SIMPLE PROPERTY KNOWN AS8707 Ritchboro Road District Heights, MD 20747 Under and by virtue of the power of sale contained in a certain Deed of Trust to PRLAP INC, Trustee(s), dated November 29, 2006, and recorded among the Land Records of PRINCE GEORGE'S COUNTY, MARYLAND in Liber 26624, folio 574, the holder of the indebtedness secured by this Deed of Trust having appointed the undersigned Substitute Trustees, by instrument duly recorded among the aforesaid Land Records, default having occurred under the terms thereof, and at the request of the party secured thereby, the undersigned Substitute Trustee will offer for sale at public auction at THE PRINCE GEORGE'S COUNTY COURTHOUSE LOCATED AT 14735 MAIN ST, DUVAL WING ENTRANCE, UPPER MARLBORO, MD 20772 ON,JULY 10, 2015 at 3:00PM ALL THAT FEE SIMPLE LOT OF GROUND and improvements thereon situated in PRINCE GEORGE'S COUNTY, MD and described as follows:LOT NUMBERED ONE HUNDRED NINETY EIGHT (198) IN BLOCK LETTERED "B" AS SHOWN ON THE PLAT ENTITLED "PLAT 2, SECTION THREE, PART OF BLOCK "B", FORESTVILLE PARK", WHICH PLAT IS RECORDED AMONG THE LAND RECORDS OF PRINCE GEORGE'S COUNTY, MARYLAND IN PLAT BOOK 96 AT PLAT NO. 67.

There's also ways to accomplish proper service through "substituted service" where it's not necessary to personally serve the defendant.

Quite frankly if th owner is in foreclosure he has no negotiating power at this point.Have you talked to the foreclosing entity, maybe you can substitute yourself into the loan and pull it out of foreclosure.If their is no equity left it may be better to look elsewhere for your 1st investment.

In researching county records I noticed that the note holder (BoA) appointed a substitute trustee and demanded the total amounts payable due immediately.

Free and Clear Houses - Buy on Private First Mortgages - Create good private terms, like a Moratorium on payments, Subordination, and Substitution of Collateral.6.

Books, gurus and advice are great ways to learn, but no substitute for good old experience.

I just got back from teaching English in Korea, and I am waiting till July to start my day job as a substitute teacher.  

There is no substitute for being physically present with experienced investors.I'm always happy to help point you in the right direction for resources or tools on BiggerPockets that can help you with your REI goals!