Foreclosure
Bar Exam · Flashcards · Recall
BAR EXAM · FLASHCARDS
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QUESTION
In what order are foreclosure sale proceeds distributed?
QUESTION
What is a deficiency judgment?
QUESTION
What is the effect of foreclosure of a senior mortgage on a junior mortgage?
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ANSWER
It extinguishes the junior mortgage if the junior lienor is joined. The junior lienor then has a claim to any surplus proceeds.
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