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You are working for a law firm that represents a lender who specializes in second mortgage loans. It has come to your attention that the

You are working for a law firm that represents a lender who specializes in second mortgage loans. It has come to your attention that the holder of a first mortgage on one of the properties securing this lender's loans has commenced foreclosure proceedings. Should the second mortgage lender be concerned? If so, what steps could the second mortgage lender take to protect its interest in the property?

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