After the owner of a $650,000.00 home defaults on the second mortgage on his property, the owner of that mortgage, BMO, files a foreclosure suit against him. BMO's mortgage currently has an unpaid balance of $275,000.00, while the homeowner continues to service the first mortgage, issued by CIBC, which has a current UPB of $415,000.00. Assuming the suit is successful, BMO will only bid for the property at the foreclosure sale if it believes that: CIBC will accept the current UPB of its first mortgage o the homeowner will invoke his right of redemption and pay half of the UPB on both mortgages the market price of the home will exceed $690,000.00 the market price of the home will exceed $415,000.00. none of the above