Laws vary from jurisdiction to jurisdiction. I don't know if I get what you are saying. It sounds like you are talking about a second mortgage. If you are not the primary mortgage on the property, you will receive proceeds of the foreclosure sale, in order of priority, to the extent that the property is sold in excess above what the primary mortgage is for. The problem with the scenario you present is that it doesn't sound like the secondary mortgage has been filed, which could affect priority if a third or fourth mortgage has been put into place on the property and properly filed.

If you aren't thinking of a secondary mortgage scenario and you are the only mortgagor, then you would be the one doing the foreclosing and would receive all of the proceeds of the property to the extent that you had a mortgage on the property.