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Property Deep Dive Part Six: Mortgage and Foreclosure Command Center — Priority, Purchase-Money Mortgages, Transfers, Foreclosure, Deficiency, and Redemption

11/7/2026
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🎧 EPISODE SUMMARY 🎧

The note concerns repayment; the mortgage concerns security. Assumption creates obligations that subject-to ownership alone does not. Priority depends on chronology, recording, and special rules. Senior foreclosure can terminate junior interests; junior foreclosure ordinarily preserves seniors. Distribute proceeds according to the foreclosing lien's position, then evaluate deficiency limits separately. Distinguish equitable redemption from statutory redemption, and apply procedural and tenant protections before announcing the consequences of foreclosure.

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