A foreclosure finds a homeowner with the following liens: a first mortgage dated five years earlier; a second mortgage dated two years earlier; an unpaid real estate tax bill for the current year; and a mechanic's lien for work performed five years earlier. Which of these liens will be paid off first?

Question

Social Studies

Amelia Mora

19 November, 15:49

A foreclosure finds a homeowner with the following liens: a first mortgage dated five years earlier; a second mortgage dated two years earlier; an unpaid real estate tax bill for the current year; and a mechanic's lien for work performed five years earlier. Which of these liens will be paid off first?

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Answers (1)

Know the Answer?

Henry Morris · Answer 1

The correct answer is Property tax lien

Explanation: This is a certificate of claim against a property that has a lien placed upon it as a result of unpaid property taxes.