Bob owes the bank a 1st mortgage:$60,000 @500/MO P&I

Bob is ten payments behind on his 1st mortgage:($5,000 in the rear)

Bob owes Sam a 2nd mortgage $10,000 @$100 month.

Bob has $30,000 in equity.

The bank 1st mortgage holder is foreclosing. The property goes to a public auction, the proceeds of the sale will be paid to the 1st mortgage holder first, to the 2nd mortgage holder (Sam) second, and to other r lien holders if any third, and the remanding proceeds will go to Bob the owner.

The bid is open by the courts for what is owed to the bank plus all fees.

The opening bid is $70,000. Sue an investor bids $70,000 and won the bid the bank, and all fees are paid in full.

Sam does not receive any money (2nd mortgage holder) Bob the owner don't receive any money plus he is evicted from his home.

The second mortgage is wipe out completely, and the first mortgage is paid in full. Sue now owns a home that has $30,000 dollars in equity she can put money in her pocket.

If Bob (the owner) had the knowledge we offer in our book, foreclosure insurance, he would not have lost his home at an auction.

If Sam (the 2nd mortgage holder) had the knowledge of the foreclosure process he could have protected his investment and received all of his money plus more.