The owner of a home with no liens obtained a home equity of $75,000, secured by his home. several months later, he borrowed $15,000 and then $13,000, each loan secured by a lien against his home. He then lost his job and failed to pay his past due property taxes of $7,500. His loan went into default and his home was foreclosed. Assuming that the liens for all three loans were recorded in a timely manner, what is the order of payoff to the lien holders?

a) $7,500 , $75,000 , $15,000 , $13,000

b) $7,500 , $13,000 , $15,000 , $75,000

c) $75,000 , $7,500 , $15,000 , $13,000

d) $75,000 , $15,000 , $13,000 , $7,500