Finance
A 'second mortgage' or 'home equity loan' in NC is characterized as:
AA first lien on the property
BA subordinate lien, junior to the first mortgage✓ Correct
CAn unsecured personal loan
DA form of title insurance
Explanation
A second mortgage or home equity loan is a subordinate (junior) lien on the property, meaning it is behind the first mortgage in priority. In a foreclosure, the first mortgage is paid before the second mortgage from sale proceeds.
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