QUESTION
Is it true that a sheriff's sale of house for a Bank foreclosure, negates the mechanics lien which is on the house?
Asked on May 16th, 2013 on Foreclosures - California
1 ANSWER
Assuming there is no equity in the property, when the senior lienholder (purchase money lender) forecloses, all junior liens are negated. However, that does not negate the debt itself.
Answered on May 20th, 2013 at 8:21 PM