I'm a Jr. lien holder with a sale date coming up...


#1

iim a jr lien holder with a sale date on my lien coming ahead of the senior. Will the senior have to buy me out


#2

NO! Your foreclosure does not affect them at all. They can even still foreclose after you do. If, when you take the property to trustee sale, it sell to a 3rd party, your done. No longer your problem, just pocket the cash. If no one bids and you take the property back, you’ll need to move quick to stop the 1st from foreclosing, or pull together the cash to bid the first up and protect your position (your entitled to any amount collected at the sale on the first, that is more than what was owed on the first).