The second mortgage holder, the seller, will have to subordinate his second to the bank for the new loan being made.

In every letter I include the date of Lis Pendens, their note holder, their name and address.

The existing lien holder would have to agree to move to second position.

(vi)The holder of this note and mortgage is limited to recovery of the debt evidenced hereby by foreclosure and sale of the property affected by the mortgage securing same.

Realize that by the time a first position mortgage lender gets to forclosure, there are so many expenses added to the total, that the 2nd lien holder has no equity to work with.Having said all of this, I do have a program that provides 100% financing in specific instances.

Then defined the seller as someone other then the owner or Deed holder.

The parties agree and understand that if said due on sale clause is enforced by the holders of said mortgages, the entire balance due under said mortgages/deeds of trust will have to be paid off.

Hi, absolutely yes. 6 years from now if rates are 9% and you are in at 4.25%, if that servicer or note holder finds that you have conveyed an ownership interest in or to the collateral security, they will most likely act in their best interest and let you know to pay it off!

The parties agree and understand that if said Due on Sale Clause is enforced by the Holder(s) of said Mortgage(s)/Deed(s) of Trust, the entire balance then due under said Mortgage(s) must be paid in full.

Once the redemption period passes the tax lien holder would have to initiate a tax sale foreclosure action in order to cut off the homeowners right of redemption and gain title to the property.