Foreclosure University Forum

Jr. Lienholder Forecloses w/out Sr. Knowing

by tbshomes, Sunday, February 22, 2009, 17:10 (3767 days ago) @ alisad
edited by foreclosureuniversity, Wednesday, February 25, 2009, 16:00

It is very possible for the 2nd lien to foreclose on a property. The only thing is that they will be responsible for the full payoff of the senior lien. They probably evaluated the property and felt like the property was worth a lot more than what is owed to the senior lien. Taxes liens have been paid off on many properties I dealt with by Mortgagees simply because Taxes are senior to mortgage liens.

John Lee

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