Hello, this is business law study could you please help me in solving this, this is part of my assignment from chapter 23 law of mortgage. And with each and every principle applies on it.

Zalinski was the owner in fee simple of a house and lot. She mortgaged the property to the Home Bank for $50,000. Then she sold the house and lot to Steele for $75,000, of which $50,000 represented the mortgage Steele assumed and the remaining $25,000 was payment to Zalinski for her equity. Shortly after that, Steele borrowed $10,000 from Gray, giving Gray a $10,000 second mortgage on the property as security for the loan. Steele then sold the property to Allen for $80,000, of which $50,000 was the first mortgage to the Home Bank, $10,000

the mortgage to Gray, and $20,000 cash payment for Steele's equity. The house caught fire and burned to the ground a few days after Allen acquired the property. The house was insured for $45,000. The policy named Allen as the insured, the Home Bank as first mortgagee, and Gray as second mortgagee. After the fire, Allenabandoned the property and left the country. Advise the Home Bank and Gray as to their legal rights. Speculate as to how the parties might proceed toward protecting their respective interests.