I also already own 15 condos in this complex, so I know who the original developer was, and only had to trace the title chain back to him.I have a statement from the mortgage holder, and I know what the payoff amount is.Our closing day is going to look like this: I call the county clerk to verify that the seller is still the owner.

What does matter is the foreclosure by the senior lien holder.

Here, that is similar to an hoa foreclosure auction occurring, then later followed by a mtg foreclosure auction.....neither sale gets “set aside”, the first buyer of an inferior lien simply gets wiped out.The particular situation, timelines, proper naming and serving of lien holders, etc. would all have to be looked at.

and for me rentals are just a place holder for cash..

They said they automatically close out any SS files that reach 31 days from the date they were submitted if the junior lien holder has not accepted.

What I can say is that the foreclosure process is to indemnify or pay the lien holder for the financial loss outstanding and not a dang dime more.

The buyer is telling me it is commercial loan modification wher the original lender sells short and then flip it back to the original holder at 50-65% of the new current income appraised value.

When someone sells assets in tax-deferred retirement plans, the capital gains that would otherwise be taxable are deferred until the holder begins to cash out of the retirement plan.

I was under the impression that when a note is purchased and there is a  1st mortgage on it that I am, as the note holder, still 1st in line if foreclosure happens.

In addition to prior lien holders you'll also take title subject to any junior lien holder who were not named and/or served in the foreclosure.