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Foreclosure (Foreclosures)

by foreclosureuniversity ⌂ @, Tuesday, August 19, 2014, 22:54 (1573 days ago) @ lagakross

It all comes down to lien priority and when things are recorded. Any lien holder can initiate foreclosure, however they are responsible to pay off any lien holder that is senior to them. This is why 2nd lien holders or 2nd mortgage holders don't like to initiate foreclosure because they risk not getting paid plus they have to pay off the 1st. So in your case, yes, they can foreclose. Will you get paid off, depends on when your lien was recorded.

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ForeclosureUniversity.com


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  • Foreclosure - lagakross, 2014-07-28, 14:38 [*]
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