Finance
In Louisiana, a 'second mortgage' is subordinate to the first mortgage, meaning:
AIt has priority over the first mortgage in a foreclosure
BIt is paid off after the first mortgage in a foreclosure sale — the second lien holder has greater risk✓ Correct
CIt is held by the same lender as the first mortgage
DIt does not need to be recorded
Explanation
A second mortgage has a subordinate lien position — in a foreclosure, the first mortgage is satisfied before the second. This greater risk typically results in higher interest rates for second mortgages.
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