Legal Question in Real Estate Law in California

Re: lien on property in default

Who knows? This is like asking "I made some investments, will they be profitable?"

Deciding what to do, and guesstimating the results of doing that, takes research, an understanding of secured creditors' rights and procedures, market value information, a current title search, and more.

Some secured lenders are delaying foreclosure for now because prices are so depressed there may not be enough cash to pay off senior debt.

I think you should take your papers to a local real estate guru and get advice - preferably a lawyer, but a good broker could also be helpful.