Kind of excited today. Just took the first steps towards getting my seriously delinquent loan back on track. Reached out to the servicer to get options for sending the borrower a re-instatement proposal and stated my willingness to accept payments from the BK case to cover the arrears and past due payments... I've never been through this process, so kinda feeling my way through it. It's my understanding they can take the arrearage amount and add it to the BK case and the trustee can make payments towards that amount until its paid off. This will allow the borrowower to focus on the BK payments and keeping the monthly payments current on the note. It will also increase the monthly income from the note as now I may be getting 2 payment streams from this note... if all goes well and I understand the moving pieces. My next steps are if this process fails, then I can file a motion for relief from stay and remove the BK protections and proceed with the demand letter and begin the foreclosure process. I'm hoping it doesn't come to that, but that's my understanding. If anyone has feedback or sees anyting I'm missing or misunderstanding please chime in and we can all learn together :D Cheers and have a great day!

Hi, I am new to this investing in real estate strategy. I’m just wondering if I buy the second lien for a mortgage note if the borrower falls into delinquency do I still have the rights to foreclose on the property or do I have to go through the first lien holder first?

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