Many buyers paid too much for their homes, didn't understand the underlying mathematics involved, didn't understand the financial instruments they were using, used their properties like ATMs, and didn't understand enough about business and economic cycles to filter through all of the "buy buy buy . . . it's always a great time to buy" noise spewed by many others (including many RE pros) who also were equally clueless.The "no down-payment equals no 'skin in the game'" argument is a non sequitor.

Got the definitive answer: properly recorded trust deed can be foreclosed on judicially or non-judicially for 10 years following the due date, if identified on the recorded security instrument (i.e., trust deed), or 60 years, I not so identified.I must have been eating magic mushrooms to not immediately recall this, guys.

Lender may require immediate payment in full of all sums secured by this Security Instrument if:(i) A Borrower dies and the Property is not the principal residence of at least one surviving Borrower; or (ii) All of a Borrower's title in the Property (or his or her beneficial interest in a trust owning all or part of the Property) is sold or otherwise transferred an no other Borrower retains (a) title to the Property in fee simple, (b) a leasehold under a lease for less than 99 years which is renewable or a lease having a remaining period of not less than 50 years beyond the date of the 100th birthday of the youngest Borrower, or (c) a life estate in the Property (or a beneficial interest in a trust with such an interest in the Property).

Do you want the lien as a debt instrument earning interest or the asset?

To address the OP question at the bottom of the first post - the Deficiency Judgement is its own stand alone instrument.  

I've discovered three lien instruments that were filled on this property. 

Sec. 8 doesn't give landlords actual money---in a net sense. it reduces the balance on the landlords' mortgage under a schedule of compliance. the landlords that get a check from Sec. 8 have no clue which grant partners contribute to that instrument.

“Tax lien instruments can give you high returns, plus they help the community overall.”With interest rates almost four times higher than CDs and market accounts, it’s no wonder tax lien auctions are becoming popular.

Bigger Pockets has been instrumental in helping me get my REI business off the ground.  

We are coming up on a vacancy now, likely have to do some deferred maintenance.... so now would be a great time to get a financing instrument moving, as she has little cash to do work on it.I know how to look at a single rental and gauge its cash flow vs PITI and expenses...