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Updated over 11 years ago,
What you should be concerned as 1st lien holder if there's 2nd loan?
Property appraisal value: 265K
Borrower's down payment: 79K
You 1st trust deed: 132K
Seller: 2nd trust deed: 70K
Two year balloon
In addition to the high combined loan to value, what else should you look at to evaluate the risk of this deal?