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  1. #1

    Default Priority of Lienholders

    I have a question about the priority of lien-holders...Bank A loaned $250K with two separate Colorado properties (property 1 and property 2) listed as collateral in the deed of trust. Later, Bank B loaned $100K listing only property 2 in the deed of trust. Recently, Bank A foreclosed on its deed of trust but only listed property 1, which was subsequently sold at foreclosure (for $200) and deeded to Bank A. Now, Bank B is foreclosing on its deed of trust on property 2. Is the Bank A lien on property 2 still valid? Senior? And, if so, for how much?

  2. #2
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    Default Re: Who's On First

    From what you say, I would expect Bank A to have a valid lien against the second property for the balance owed (apparently $50K, plus fees, penalties, foreclosure costs, etc., from the prior foreclosure). All I can really do is guess. Did Bank A try to get a deficiency judgment against you? Cease all action after the foreclosure? Have you been paying anything on the second property?

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