If the private mortgage insurance company is liquidating the property, I assume any existing financing has been paid off (charged off) or the policy benefit was given to previous mortgage holder?

I reply to that like this...This outside investor actually approached my 2nd mortgage lien holderasking to be a junior lien holder.

All the lien holders have to come to agreement on the proration of the proceeds.

The second lien holder can foreclose on their position and take over ownership subject to the first lien holder's position.

The bank would net 386k (my gross offer is 402k) Today the 1st lien holder (CW) called me that their countering my offer to 520k.

We will not pursue you legally concerning any deficiencies that may exist concerning the above mentioned property."1) Am I mistaken but doesn't the original mortgage holder control if there will be a foreclosure on my credit report?

Here in the state of WA - the court ruled that MERS was an agent for the banks and was not a not holder, yet many of the loans that were securitized and sold on the open market named MERS as note holder.

Many lien holders will not pursue payments of unsecured debt, but they can knowing they can be wiped out with bankruptcy, but if you have a foreclosed borrower with other assets they may not qualify for bankruptcy now and if so, other assets sold can reduce the debt.

Are wanting to be a:- Retailer-Wholesaler- Buy n' holder-etc.

are duplexes a big pain in the rear, or are they a decent choice for buy and holders?