Both First and Second Lien Holders foreclose on Property?

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Posted by IB (NJ) on February 11, 2003 at 19:56:12:

What happens when both the first and second lien holders foreclose on a property? In this particular situation, the second lien holder initiated foreclosure followed by a lis pendens filed by the first. How is priority for sheriff sale determined in this instance?

Follow Ups:

• Re: Both First and Second Lien Holders foreclose on Property? - Nick(Colorado) 20:22:50 02/11/03 (2)
  • Re: Both First and Second Lien Holders foreclose on Property? - Bill H 20:29:43 02/11/03 (1)
    • Re: Both First and Second Lien Holders. Help For You. - P.H. Miller 15:41:22 02/09/06 (0)

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: What happens when both the first and second lien holders foreclose on a property? In this particular situation, the second lien holder initiated foreclosure followed by a lis pendens filed by the first. How is priority for sheriff sale determined in this instance?


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