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A borrower with two mortgages on their property defaults. At the time of the default, the first lien has a balance of $324249, the second
A borrower with two mortgages on their property defaults. At the time of the default, the first lien has a balance of $324249, the second lien has a balance of $21564. The borrower owes $2000 in property taxes. The house sells for $274771 in a foreclosure auction. How much of a deficiency will the first lien lender have? Write the answer as a number rounded to two decimals
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