The first mortgage holder is not even a party to the subordinate lien foreclosure action and thus the first lien is unaffected.The internet (and BP) is full of stories from people who overpaid at the foreclosure of a junior (second trust, HOA/COA lien), etc... not realizing they were then taking title subject to the senior.

@Joe Davis  With a partial note sale there is usually an Assignment of the Deed of Trust (or Mortgage) and an endorsement/allonge of the note from the note holder to the investor. 

Here is when the note is up for sale and a note investor pays you off and become the new holder of the note.

Properly noticed junior lien holders will probably be extinguished but you need to be sure the interests are not an exception in the title policy. 

Instead of buying your new property we as the QI form a holding entity called the Exchange Accommodating Title holder (EAT). 

I pay to attend George Allen's Annual Roundtables every year, but, at that roundtable are many speakers who George has vetted, and a host of other community owners and a few select group of suppliers who will let me pick their brains for free and visa versa.

zimple is a loan servicing program for note holders.. we use it works fine. don't know about Geekpay

Many would-be sellers feel trapped in their current homes when comparing their current lower interest rate mortgages with today’s much higher rates.In fact, over half of mortgage holders in the US are paying less than 4% interest.This is one big reason why home prices haven’t fallen as substantially at a national scale.

Most are bundled with millions of dollars of other mortgages, securitized, chopped up, and sold off as investments in the secondary market to retirement plans, hedge funds, etc.As my mortgage guy, who has been in the business 38 years, said today when you make your payment to "the bank" you are really just paying someone that is servicing the loan, not the originator or holder of the loan.

As Chad mentioned it depends on which lien holder is foreclosing.