Per policy of WAMU i needed to negotiate with the Second lien holder before i can negotiate with them, which was understandable.

It's not a loan, you're actually purchasing part of a property as an equity stake holder.

@Mark Ferguson  One thing to think about vis a vi the bay area prices.1. lots of different nationalities that have much more purchasing power than the average market in the US... with money coming from off shore.

My second question: Does this answer change if there is only a 1st mortgage and note holder is forced to foreclose and take over the property?

So if the property is sold at sale, the lender gets paid, and the remaining proceeds would go to the lien holder (up to whatever they are owed).  

The HOA has been unable to contact the owners and can't figure out who the lien holder is.

We also make sure to recommend a forward tilt and pull out tv holder, it makes the height view to be adjusted. 

Or at the least, now that the ex-husband is deceased, she ought to be able to force a refinancing by whomever is the current legal deed holder.

In Texas, the mortgage holder generally has a right of redemption if the property is sold at a tax sale. 

As the contract holder, you aren't representing the seller - you are selling your equitable interest in the property.