MEZZANINE FINANCING RIGHTS AND REMEDIES

However, it is not uncommon for a borrower to grant a second mortgage on its property to obtain more loan proceeds. The use of subordinate mortgages presents two issues for the first lien Mortgage Lender: (i) the foreclosure of its lien on the property can be complicated and delayed by the presence of a second mortgagee, and (ii) the borrower ... ................
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