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if there is a $100,000 1st mortgage on a residential property that is current (not delinquent), and a $50,000 2nd mortgage that is seriously delinquent,
if there is a $100,000 1st mortgage on a residential property that is current (not delinquent), and a $50,000 2nd mortgage that is seriously delinquent, should the 2nd mortgage lender foreclose if the net value of the property (after realtor commissions, property tax, insurance, upkeep) is $70,000?
yes
no
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Principles of Corporate Finance
Authors: Richard A. Brealey, Stewart C. Myers
7th edition
72869461, 72467665, 9780072467666, 978-0072869460
