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.  

Other plays: buy the junior debt, control the equity, claim surplus, etc. 

I am going into my junior year of studies, and I am also trying to pursue a career in real estate.  

As used in this section, the terms "owner", "junior mortgagee", "junior lienholder" and "purchaser" include their respective personal representatives, heirs, successors and assigns.There is no such language in the provision regarding surplus.That's not to say the current owner could not have an equitable claim against the trustor... but the way I read things the surplus goes to the borrower.

Sure wouldn't want to buy a property from a junior foreclosure auction thinking it was the first!!

Someone told me if a junior lien holder is not named as a defendant in the foreclosure final judgment then their lien could survive the sale and I could potentially buy a property that still has a 2nd mortgage attached to it.Does anyone know if this is true?