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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International Business Law and Its Environment
Authors: Richard Schaffer, Filiberto Agusti, Lucien J. Dhooge
9th edition
1285427041, 978-1285427041
