Finance
A Maine property going to foreclosure has a senior lien of $280,000 and sells for $310,000 at the foreclosure auction. The foreclosing lender's costs are $12,000. Remaining proceeds distributed to junior lienholders are:
A$0
B$18,000✓ Correct
C$30,000
D$42,000
Explanation
After the senior lien ($280,000) and foreclosure costs ($12,000): $310,000 − $280,000 − $12,000 = $18,000 available for junior lienholders.
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