In this example, I have a property with:$40,000 remaining on 1st lien with 10-years remaining of a 30-yr mortgage$75,000 agreed purchase price$35,000 differenceSo, I assume debt service on the 1st lien, but would I then make the set payment for the remainder of the note period?

Most credit unions will charge Prime +1% on the first HELOC, and the second lien HELOC will be PRIME + 2%. 

Hoping to get some feedback about a potential lending opportunity:$130k used as downpayment and rehab funds4pts and 15% interest only for 8 months2nd lien position with signed personal guarantee30% of profit on sale of the property - roughly $30kThe rehabber has done 20+ projects and has a good reputation.

The only time we have seen buying them at par or higher is California 1st liens with perfect payment histories.

So as I was and still am one of the larger clients  customer service did this all for me.they kept a spread sheet of every NOD .. they would update it weekly and give me lien position tax's IRS etc etc.

If you are selling the house that has the HELOC and your sale proceeds cover all liens, the liens will be paid through the closing at closing to give clear title to the next owner and any "excess $" you get to pocket.

I suppose you could file mechanic's liens on the property.

@Alan Laracuenta 1 Ask if they would be willing to do a seller carry back loan for part of the required down payment from the lender. 2 Find out if there are any lenders that are doing 2nd liens with your sorta experience.

That will go to seller financed transactions where any lien is made in connection with that property.Doing seller financing, you're not subject to banking regulations but to civil and criminal aspects of fraud, showing or telling a seller something that is not true can still be fraud in that transaction where that seller relies on the financial information given to determine if they should extend credit.

I have been reading up on tax liens for awhile.