Subordination agreement with 2 loan

[Morgan Chan]

i am looking into going into a trustee sale on deed of trust for $300,000 by evergreen "second lien holder" but after getting a title report i see there are a Subordination agreement between CTBC "first lien holder" and evergreen. If i purchase the lien on evergreen would CTBC debt be wipe out or i will be on hook for the first lien as well? Also, there is unpaid property tax as well, will the property tax be written off or which party will be responsible for it?

thanks,

morgan

[Wayne Brooks]

@Morgan Chan If the 1st mtg holder signed a subordination agreement to the second lien holder (not common but it does happen) and the second lien holder forecloses….then yes, the “former” first lien holder gets wiped. I would read the Actual subordination agreement online myself though. The property taxes stay with the property and neither lender would be responsible for them, the new owner would.