The owner of a home with no liens obtained a home equity loan of $75,000, secured by his home. Several months later, he borrowed $15,000 and then $13,000, with each loan secured by a lien against his home. He then lost his job and failed to pay his past due property taxes of $7,500. As a result, his loan went into default and his home was foreclosed. Assuming that the liens for all three loans were recorded in a timely manner, what is the order of payoff to the lien holders?
a) $7,500, $75,000, $15,000, $13,000
b) $7,500, $13,000, $15,000, $75,000
c) $75,000, $7,500, $15,000, $13,000
d) $75,000, $15,000, $13,000, $7,500