Finance
What is a 'second mortgage' (junior lien) in Kansas real estate?
AA mortgage on a second home property
BA mortgage that is subordinate to the first mortgage; it has second priority claim on the property in foreclosure✓ Correct
CA mortgage taken out after a property is paid off
DA government-assisted mortgage for second-time buyers
Explanation
A second mortgage is a loan secured by real property that is subordinate to the first (senior) mortgage. In foreclosure, the first mortgage is satisfied first; the second mortgage holder receives any remaining proceeds.
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