Question: Dave and Meagan Philips borrowed $ 1 5 0 , 0 0 0 from Fitth National Bank to help fund the 2 pts purchase of

Dave and Meagan Philips borrowed $150,000 from Fitth National Bank to help fund the
2pts purchase of a new home. The home serves as collateral for the loan. Fitth National has an insurable interest in the home based on
expectation of ownership.
having a contractual right.
being a secured creditor.
potential responsibility for legal liability.
Dave and Meagan Philips borrowed $ 1 5 0 , 0 0 0

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