Sentences with phrase «junior lienholders»

If the total amount owed to your first mortgage is greater than fair market value of your property, you can eliminate the security interest to junior lienholders and treat them as general unsecured creditors in your bankruptcy plan (thereby possibly being able to pay them less than 100 %).

Your junior lienholder can be a real stick in the mud and completely sabotage your short sale if they don't want to play ball.

NOTE: One reason a junior lienholder in California may refuse to cooperate is if the loan was a hard - money loan, secured to residence of 1 to 4 units.