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  5. 196 Cal.App.3d 1485 (1987)
 

PACIFIC LOAN MANAGEMENT CORP. v. SUPERIOR COURT

Docket Nos. H003620, H003660.

196 Cal.App.3d 1485 (1987)

242 Cal. Rptr. 547

PACIFIC LOAN MANAGEMENT CORPORATION, Petitioner, v. THE SUPERIOR COURT OF SANTA CLARA COUNTY, Respondent; DENNIS T. ARMSTRONG et al., Real Parties in Interest. SMALL BUSINESS ADMINISTRATION, Petitioner, v. THE SUPERIOR COURT OF SANTA CLARA COUNTY, Respondent; DENNIS T. ARMSTRONG et al., Real Parties in Interest.

Court of Appeals of California, Sixth District.

December 16, 1987.

Attorney(s) appearing for the Case

COUNSEL

Benjamin R. Levinson, Scott D. Hughes, Joseph P. Russoniello, United States Attorney, Judith Whetstine and Dana Sohm for Petitioners.

No appearance for Respondent.

Robert L. Mezzetti and Oscar R. Roesler for Real Parties in Interest.

OPINION

BRAUER, J.

We have consolidated for decision two petitions for writs of mandate or prohibition arising out of the same lawsuit and presenting the issue, apparently of first impression in this state, whether a junior lienor loses his right to the surplus proceeds of an out-of-court foreclosure sale when he himself purchases the property at the sale. We have concluded that he...

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