You actually become the title holder when you purchase it at the tax sale.

I am the holder of a third trust which is going to foreclosure auction this week (initiated by the holder of the first).

Does anyone else besides you and the original lien holder have any claim to this property?

since lenders don't like too many loans with an investor, and since i plan on buying several hundred over the next few years, i thought it might be easier to go private.i would buy with cash and rehab. afterwards i would refi to pull out investment and some profit, not going over 80%LTV, with new 1st. explain to lien holder that i would be selling doing a wrap to create cash flow. be up front with them.just wondering if this is plausible. i would love to get opinions or any other ideas for accomplishing this.jim

Does anyone have experience with different types of software for people who hold notes? I'm looking for a comprehensive package that will track payments, interest, penalties etc. Ease of use is critical. I'm on a m...

What the first bank is telling us is that they are going to take the full amount of the debt owed to them and leave only 5K for the second debt holder.

The second lien holder takes possession of the property subject to the first lien.

Which means that there are multiple owners sometimes spread out across the country, and you would need every title holders signature to get title insurance.

That's why I know more flippers here than buy and holders...

In this case, Cliff’s “lender” is really just a note holder and wouldn’t have to be licensed.