Problem.Relationship between debt and value of collateral

     Read only the Statement of the Case in In Re Rogers Development Corporation. Assume the court finds the value of the real property in that case to be $750,000 as of the date of the hearing the court is holding. At that time, is Heritage Savings and Loan Association (Heritage) adequately secured or undersecured? At some point could Heritage become undersecured? How? Are the creditors in whose favor the debtor executed a third deed of trust adequately secured or undersecured? What about the creditors who later recorded mechanics liens? Does the debtor have any equity in the property?