Finance
A second mortgage taken after a first mortgage is recorded has what priority position?
ASenior to the first mortgage
BJunior (subordinate) to the first mortgage✓ Correct
CEqual priority with the first mortgage
DPriority determined by the loan amount
Explanation
A second mortgage is junior (subordinate) in priority to the first mortgage. In a foreclosure, the first mortgage is paid off before the second mortgage receives any proceeds.
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