Foreclosure University Forum

Foreclosure (Foreclosures)

by lagakross, Monday, July 28, 2014, 14:38 (1335 days ago)

I have a 80/20 loan with Citi owning the 80% and my trust fund owning the other 20%, my question is can Citi foreclose on the property when they don't own all 100%? Would they have to pay off the other 20% in full if so? I also owe another $25k to a 3rd bank for a line of credit.



by foreclosureuniversity ⌂ @, Tuesday, August 19, 2014, 22:54 (1313 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.

Good Luck


by caroline, Thursday, April 06, 2017, 23:20 (352 days ago) @ lagakross

Hello lagakross,
I think you should contact an expert foreclosure agent to resolve this issue or take advice from finance advisor.

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