Finance
What is a 'junior mortgage' in Delaware?
AA mortgage for younger buyers with limited credit history
BA secondary mortgage that has lower priority than the first (senior) mortgage in the event of foreclosure✓ Correct
CA mortgage with a junior interest rate
DA mortgage for a property with a junior (secondary) deed
Explanation
A junior (subordinate) mortgage is a second or subsequent mortgage that has lower priority than the first mortgage. In foreclosure, the first mortgage lien is satisfied first from proceeds; the junior lender receives what remains.
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