Question
1. Mort owns a property.Wells Fargoholds a first mortgage interests and PNC holds a second mortgage interest. Mort defaults on his mortgage payment. Wells Fargo
1. Mort owns a property.Wells Fargoholds a first mortgage interests and PNC holds a second mortgage interest. Mort defaults on his mortgage payment. Wells Fargo initiates a foreclosure action withoutnaming PNC in the foreclosurecomplaint. The property ossold to SheiliaMcBride at the sheriff sale. What right does PNC nowhave?
2. What would be the outcome if the PNC was not recorded?
3. What if PNC wasjoined in the foreclosuresuit but forgot to attend the saleand bid? Does PNC have any other wayto get Mort to pay?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
