Any new mechanics lien or 2nd TD would be Junior to the existing 1st TD so the foreclosure plan you outline would not work. Two ideas I can think of:
Depending on your State’s laws you may be able to purchase the property Tax lien certificate, then default, and clear Title that way.
Your State may have a statue that makes any Deed of Trust which has not been collected on for x years (5, 6, 8, etc…) voidable.
You did not provide any numbers, but it seems highly unusual that the church would not make any attempt to assign the mortgage to someone else. Although it may not have much to do with the answer to your question, I would be interested in the circumstances leading to a church owning 6 properties, a church selling you 6 properties, and then a church dissolving and abandoning the mortgages on 6 properties? How much was the mortgage for, and how long has it been since you made a payment?
i have six properties under one mortgage that was owner financed, well the church i bought them from is no longer in existence. if i made a mortgage or a mechanics lien on one of these properties and foreclosed on that lien, would that wipe out the first mortgage on all the properties. and what are the basic steps in a forclosure? and how do i win in this senario. thanks for the help andy
As a buyer of tax liens I constantly come across property owners trying to buy their own lien in order to get priority over the mortgage holder and potentially wipe them out. (They also do it to bid down their own interest rate)There is case law on this in NJ which prohibits this practice and will simply merge the tax certificate amount (and interest) with the mortgage. Instead of cutting corners I would try to find someone with the authority to discharge the mortgage and offer them money to release it.