Explain Why,when There Is a First Mortgage on Title of Property,interest

question 38

Essay

Explain why,when there is a first mortgage on title of property,interest rates are higher for subsequent mortgages given on the same property.

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Definitions:

Distributive Justice

Concerns the equitable allocation of goods, resources, and burdens among individuals in a society.

Healthcare Resources

Resources in the healthcare system, including medical professionals, facilities, and equipment, dedicated to the diagnosis, treatment, and prevention of disease.

Peter Singer

An Australian philosopher known for his work in bioethics, utilitarianism, and animal rights, advocating for ethical living and consideration of suffering in all sentient beings.

Libertarian

A libertarian is an individual who advocates for minimal government involvement in personal and economic matters, emphasizing individual liberty and free-market principles.