Foreclosure University Forum

Jr. Lienholder Forecloses w/out Sr. Knowing

by alisad, Wednesday, February 25, 2009, 00:15 (3765 days ago) @ tbshomes
edited by foreclosureuniversity, Wednesday, February 25, 2009, 16:02

� 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

Thank you for the reply. I do have a couple of questions if you know the law in California. If the jr. lienholder is the only bidder at the auction, don't they have to at least bid what is owed to them. The Jr. bid only $20k and they are owed 85k and they have had NO contact with the Sr. nor any attempt to payoff the Sr. or come to an agreement with them as to a payoff amount. They have now served me with eviction papers and in the court docs filed they state that they are the property owners. They do not even mention in docs that they
are the jr. and there is a sr. lienholder. Any help will be appreciated


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