To purchase a house, Ed obtains a mortgage loan from Farmland Loans Inc. Farmland does not record the mortgage. The most likely consequence is that the lender will
A) not be able to prove its interest in the property.
B) find itself in the position of an unsecured creditor.
C) not have a copy of the loan in a separate location.
D) not obtain reimbursement for any of the loan if the debtor defaults.
Correct Answer:
Verified
Q45: To protect the lender's investment, a mortgage
Q46: Kelly applies for a mortgage loan at
Q47: Kevin applies for a mortgage loan from
Q48: Fact Pattern 33-1 To buy a house,
Q49: To purchase a house, Dan obtains a
Q51: Because a mortgage loan involves the transfer
Q53: Bev applies for a mortgage loan at
Q54: Fact Pattern 33-1 To buy a house,
Q55: Ridgeline Mortgage Company fails to provide Sam,
Q56: To buy a home, Lois pays part
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents