It is uncertain, for example, whether necessary parties would include a tenant in possession of the premises, an easement owner, the county with a claim for past due real estate taxes, judgment lien holders
, the general contractor or other mechanic's lien holders
This was a Branch Banking & Trust (BB&T) short sale in South Carolina and no deficiency was pursued by the lien holders
. It took a relatively short length of time for the short sale to completed thanks to the team's short sale experience and preparation, and to the diligence of the BB&T negotiator.
These inferior lien holders
have no security interest in the property after foreclosure.
This particular short sale had had two lien holders
the first was Bank of America and the second one Green Tree.
When mechanics' liens are filed, the owner of the liened property likely will pay the debts owed to the mechanic's lien holders
in order to retain the property in the face of foreclosure.
There were two lien holders
, both with Wells Fargo.
A short sale is created when selling a property whereby the proceeds fall short to pay off the debt against the property and the lien holders
agree to release their lien on the real estate and accept less than the amount owed on the debt.
In order to sell the property, the lien holders
must agree to settle for less than is owed.
The Plan ot Reorganization has the support of over 70% of the Senior Secured Noteholders (the "First Lien Holders
"), the holders of certain funds and accounts under management that collectively own or control a percentage of the company's senior secured first-in, last-out notes, who also hold a percentage of the first lien notes, second lien notes, and senior unsecured notes, as well as the support of the Unsecured Creditors Committee (the "UCC") whose members consist of trade creditors, the Pension Benefit Guaranty Corporation, certain unions, and the indenture trustee for the unsecured noteholders.
Mechanics lien holders
file against property owners of a project as protection against not getting paid by a general contractor or subcontractor.