The subject was purchased by a buyer who financed the purchase by signing a conditional sales contract with the seller. The seller did not pay off the existing mortgage on the property at the time of the contract sale. Two years later, the property was foreclosed by the existing mortgage holder because the contract buyer was paying the prior owner, but the prior owner did not pay the existing mortgage. Which of the following statements is true? The contract buyer's interest will always take priority over the lender's interest. The first mortgage lender's interest will take priority over the contract buyer's interest. The contract buyer's interest will be of equal priority to the first mortgage lender's interest. The contract buyer's interest will always be the first in line for recovery because the courts always side with the borrower