This whole issue is making me crazy.  I'm back to Joe Blow & his wife on their fifth refinance with a batch of liens in between.  Because of Equitable Subrogation they have perhaps thumbed their noses at attaching creditors including the IRS & the Commonwealth of Mass.  Proponents say that these lienholders are in no worse position than they were before.  What happens when Joe Blow gets foreclosed on - a rhetorical question of course.  All the intervening lienholders are wiped out (except for tax takings).  Where is the fairness in that???