Preferred equity on the other hand is a type of “hybrid” debt/equity, it’s less secure than both junior and senior debt but more secure than common equity.

Then there's the issue of junior liens, HOA dues and liens against the sellers that the sr. lender won't pay.  

I began taking classes my junior year in high school while juggling school and varsity soccer.I sold my first house for $580,000 just a month after graduating high school at 18 years old.

My junior and senior year of college I was an agent, it wasn't overly lucrative but great beer money.

I am currently working as a Junior Broker in Arizona for NAI Horizon focusing on Mobile Home Park and RV Park Investments.

Hi @Robert Murphy  welcome to BP.Analyst is a good entry level position and some brokers might even offer you a junior associate position right off the bat for commercial real estate sales.If you're not already involved, start checking out NAIOP and the International Council of Shopping Centers (ICSC).Best of luck!

Under that process junior lien holders have a very short window (something like 7 days or less) to pay off all creditors ahead of them (e.g. 2nd mortgage pays off the 1st).

You could try to buy that for cash at a discount if it's a smaller bank and then foreclosure to wipe out the junior lienholder.Are you trying to get a loan or pay all cash?

I know another landlord in the City who runs an "upscale" boarding house close to the legislature {we are in the capital} where the junior staff and aids to the MLAs stay when the legislature is in session.

We are both stuck is my interpretation. thanks, MattIf a foreclosure of a superior lien position occurs, all junior liens are extinguished (debt still remains the responsibility of the original debtor) provided proper notice of the foreclosure was given to the junior lien holders.