Question on Jr (2nd position) VS Senior (1st) lien / DOT
So what exactly makes a senior lien senior (1st) and a junior (2nd) junior? When referring to a deed of trust, is it the time/date when one was recorded or the dollar amount ?
For example if I take a loan (considering there are no other liens attached) for the amount of $50k on 2/14/18... then later take another loan for $100k on 7/17/18, which is Senior?
The first one I took because it was recorded first or the second at a higher value yet a later date?