Not sure if it varies from state to state, but in MS when a creditor forecloses on a subordinate lien the first lienholder MUST be satisfied of record meaning that in order for the second lienholder to foreclose he must have the first released...usually by having the second lienholder payoff the first.

Lender would not be involved until after the property is under contract.The title company will get a written payoff statement from the lender which will include principal, interest, escrow shortages, late and other fees, and anything else required for the lender to release their lien.

My next call is going to be with ring central to make sure they dont give me a hard time with releasing the numbers I have with them.  

The catch is if you move out of the property you need to refinance and there is a fee for that when you do and that will release your COE so that you can rinse/repeat if you want.   

Hi Folks,I'm just recently getting educated on commercial real estate & am really interested in absolute triple net lease, single investment grade or franchisee tenant/properties, however I'm concerned about the worst case scenario of having the single investment grade or franchisee tenant not wanting to release after the initial 15/20 year term is up (& do not want to initiate 5 yr term options).

Account ClosedThis is the preview of the movie until it is released :-)  To answer your question, yes, I have considered selling the houses to tenant buyers via lease to purchase options.  

And also draft a letter you are releasing him from his lease commitment without penalty as he feels his health is at risk.

Decent chance of success here4>) seller files bankruptcy which will immediately stop the auction and then the court will release the house from the BK in order to sell it as long as there's no equity in it.

.- "Releasing/Unit Turn" Fee - The cost to "turn" a unit including repairs as well as re-leasing.Once you add in all those expenses beyond your PITI you'll have a better idea of the Net Operating Income (NOI) and what would be available to pay off your monthly debt service. 

They held the money for 2 years and released it after.