I am the third lien holder of a house. The second holder is foreclosing on the house. will I be able to get what is owed me after foreclosure sale?
December 15th, 2008 by Jarad S.Question: I am the third lien holder of a house. The second holder is foreclosing on the house. will I be able to get what is owed me after foreclosure sale?
Answer: -Based on Lien Priority those senior to you always get paid first. So in order for you to get paid, the bid amount must be enough to pay off any senior lien holders. Once they are paid off, you will be next in line to get paid. So it really depends on the bid amount whether you’ll get paid or not.
