what is the difference between buying property and lien position after first mortgage?

Asked by Natasha Charo, Crystal Lake, IL Sun Dec 2, 2012

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Philip Cabral’s answer
Philip Cabral, Agent, San Jose, CA
Sun Dec 2, 2012
The two have very little, if any, to do with each other.

Buying property is just that.
Liens have to do with positions on the title to property, 1st, 2nd, 3rd etc.
In the event of a foreclosure the 1st lien is 1st to get paid.
If there is any money left over then the 2nd lien gets paid, and so on.
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