My question for anyone who knows the Arizona Trustee Auction / Sale Law. I did a title search and found NO subordination agreements in place and all real estate taxes caught up and paid for.
The title search shows TWO mortgages. First mortgage Is a large loan recorded as a 2006 date, has since switched Lender hands, but still shows up in the title report with the original recording date of 2006. The second mortgage show up in the title report as a HELOC recording a 2007 date (title report shows this mortgage/loan as an Active/Open mortgage). So the way the title search report reads, the first mortgage recorded in 2006 shows up first in time. The second mortgage recorded in 2007 shows up second-in-time.
At Trustee Auction, will the second mortgage (recorded in 2007) be wiped out? Again, I found no subordination agreement in the title search report.