2nd lien holder didn't step up during bankruptcy

[CharlotteInvest]

What is the name of your state? nc

i have a situation, i am looking to buy a house that is going to foreclosure and the homeowner has a second lien holder that went out of business and can't be found.

is there a way to have the lien dismissed because we need to contact the lien holder to see if they will accept less than the amount they are owed. the sellers bankruptcy attorney stated that the lien isn't valid since the holder didn't step up during the time allowed by statute. this is new to me.

i just want to know if the lien is still valid and if it is, can the homeowner file some type of petition to have the lien released from the house as the holder is MIA?

 

[FlyingRon]

Liens aren't typically discharged in banrkuptcy. If he is so confident, tell him to get it cleared up before you will purchase the property.

 

[LindaP777]

I have a situation, i am looking to buy a house that is going to foreclosure

the sellers bankruptcy attorney stated that the lien isn't valid since the holder didn't step up during the time allowed by statute.

Is the house going into foreclosure or is the homeowner in bankruptcy? There a big difference.