What is the best action for the second lien lender to take


Problem

A property has the following capital structure:

1st Lien $200,000
2nd Lien $50,000
Equity $25,000
Total $275,000

If the first lien is in default and noticed for foreclosure sale, what is the best action for the 2nd lien lender to take?

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Corporate Finance: What is the best action for the second lien lender to take
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