Foreclosure University Forum

Jr. Lienholder Forecloses w/out Sr. Knowing

by tbshomes, Sunday, February 22, 2009, 17:10 (3709 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.


Sincerely
John Lee


Complete thread:

 RSS Feed of thread

User Menu

Forum Search

 

Featured Product

foreclosure home study course
"The Investors Complete Foreclosure Home Study Course - Only $47"

Discover a Proven System for Buying Real Estate Foreclosures 30%, 40%, and 50% Below Market Value. Generate Huge Returns Using This Step-by-Step Foreclosure System.

Learn More - Click Here

Forum Statistics