Our purpose in this Article is to show how and why junior liens impose these constraints on the process of resolving residential mortgage loan defaults, and to suggest some changes in the law that can restore a measure of desirable flexibility for borrowers and servicers in negotiating default resolutions. At the same time, these suggestions take into account, as they must, the need for fairness in respecting the legitimate rights of junior lienholders.
R. Wilson Freyermuth and Dale A. Whitman,
Residential Mortgage Default and the Constraints of Junior Liens, 57 University of Louisville Law Review 207
Available at: https://scholarship.law.missouri.edu/facpubs/733