Question: Shakira borrowed $ 2 0 0 , 0 0 0 in order to purchase a home. She entered into a mortgage with the lender, but
Shakira borrowed $ in order to purchase a home. She entered into a mortgage with the lender, but the lender never recorded the mortgage. Shakira then borrowed additional money from a second lender and executed an mortgage on her home, which the second lender recorded. Which of the following is a true statement?
Group of answer choices
The first lender will have priority over the second lender because its loan was used to purchase the home.
The second lender will have priority over the first lender, because the first mortgage was not recorded.
Shakira must disclose the first mortgage to the second lender before she can pledge the same property as security for a second mortgage.
The first lender cannot enforce its mortgage against Shakira, because it did not record its mortgage.
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