Anyone foreclose on 2nd?

I have heard if the 2nd won’t budge on what they are owed you can buy the 1st and foreclose on the second. Has anyone done this? Do you have to pay full price for 1st or can you discount? Is it a pretty lengthy process?

How do you plan to foreclose on a note that you don’t hold?

Maybe they said you foreclose on yourself. Would that wipe out the second?

So you’re going to take yourself to court to settle a debt that you owe to you?

Whether you can buy the first and for what price is up to the holder of the 1st mortgage. Chances are if there is equity from their position they are not going to discount the note. Also it can be a hassle trying to deal with a large servicer, trying to find the right contact and negotiating a deal. But it could be worth the effort if the value is there.