Need an Oregon Attorney familiar with redemption rights
I currently use a strategy of purchasing redemption rights for sheriff sales and I utilize them to get the title earlier, or redeem if someone else buys the property at auction. I am in need of some legal advice. I own the redemption rights for a property. The judgment amount on the foreclosing 1st lein was 176k there is a second lein for 21k and a third for 10k and a fourth for 30k. The property sold at auction for 196k. I already negotiated the 3rd and 4th lein down to 1k for each.
My question is, will the the 20k override go to the 1st lein, or will the 2nd lein be paid off with the remaining proceeds. I'd like to redeem in the next week, but I don't want to pay the whole 2nd mortgage off.