Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mort owns a property. Wells Fargo holds a first mortgage interest and PNC holds a second mortgage interest. Mort defaults on his mortgage payment. Wells

  1. Mort owns a property. Wells Fargo holds a first mortgage interest and PNC holds a second mortgage interest. Mort defaults on his mortgage payment. Wells Fargo initiates a foreclosure action without naming PNC in the foreclosure complaint. The property was sold to Sheila Mcbride at the sheriff sale. What right does PNC now have?
  2. What would be the outcome if the PNC was not recorded
  3. What if PNC was joined in the foreclosure suit but forgot to attend the sale and bid? Does PNC have any other way to get Mort to pay?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Criminal Law Doctrine Application And Practice

Authors: Jens David Ohlin

3rd Edition

1543835120, 978-1543835120

More Books

Students also viewed these Law questions

Question

Explain how religious attitudes affect firm behavior.

Answered: 1 week ago

Question

Peoples understanding of what is being said

Answered: 1 week ago