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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Junior liens are wiped off title by a foreclosing senior lien.. Posted by Ward-CA- on May 31, 2003 at 7:56 PM In Reply to: jr. lien posted by Dominique on May 31, 2003 at 7:20 PM : My question is, if I buy a foreclosure from a first trust deed holder (senior lien holder), are the debts to the junior lien holders wiped out, or do I have to pay them off also to have sole title to the property? I read an article by Rob Bruss that suggested that if a first mortgage lender is foreclosing, any junior liens, such as a second, third or fourth mortgage secured by the property will be wiped out. Please help! =•=•=•=•=•=•=•=•=•=•=•= Dominique, The highest bidder at the lender’s foreclosure auction is going to take title to the property and any and all liens junior to the senior lien’s position will be wiped off the title of the property. So, the new owner will own the property free and clear of all liens except for any real property taxes and/or bonded assessments that might exist. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : My question is, if I buy a foreclosure from a first trust deed holder (senior lien holder), are the debts to the junior lien holders wiped out, or do I have to pay them off also to have sole title to the property? I read an article by Rob Bruss that suggested that if a first mortgage lender is foreclosing, any junior liens, such as a second, third or fourth mortgage secured by the property will be wiped out. Please help! : =•=•=•=•=•=•=•=•=•=•=•= : Dominique, : The highest bidder at the lender’s foreclosure auction is going to take title to the property and any and all liens junior to the senior lien’s position will be wiped off the title of the property. : So, the new owner will own the property free and clear of all liens except for any real property taxes and/or bonded assessments that might exist. : Hope this helps. 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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