Real Estate Principles 3rd Edition by David Ling,Wayne Archer

Exercise 20

With a mezzanine loan:
A) the mezzanine lender has a lien on the property that is subordinate to the senior lien holder's position.
B) the borrower pledges the same property as collateral for the mezzanine loan that was pledged as collateral for the first mortgage.
C) the borrower's promise to pay is secured by the equity interest in the borrower's limited partnership or limited liability company.
D) the mezzanine lender has a more difficult time foreclosing than would be the case with a second mortgage.