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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Why bother foreclosing seconds Posted by Stephaine on May 23, 2002 at 2:34 PM In Reply to: Why bother foreclosing seconds posted by Jock on May 23, 2002 at 2:16 PM : I'm confused as to why lenders bother foreclosing second position liens. What does it get them since they don't get title to the property? Second position lenders can foreclose and either get paid off or get title. If they take the bid and get title, the senior leins must still be paid. If they are not paid the senior TD holder can foreclose and take the ownership. Follow Ups: Re: Why bother foreclosing seconds jock 2:41 PM, 05/23/02 (1) Re: Why bother foreclosing seconds stephanie 8:11 PM, 05/23/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : I'm confused as to why lenders bother foreclosing second position liens. What does it get them since they don't get title to the property? : Second position lenders can foreclose and either get paid off or get title. If they take the bid and get title, the senior leins must still be paid. If they are not paid the senior TD holder can foreclose and take the ownership. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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