1. Travis owned a home with a first mortgage dated Oct. 1, 2000. On May 1, 2014, Travis took out a home equity loan (second mortgage). He then hired Builder Company to build a swimming pool at the home. When the pool was completed, Travis could not pay for it because he had used the money from the second mortgage for some other purpose. It also turns out that the real property taxes on the house had not been paid for several years.

Assume that the first mortgage holder filed the mortgage on Oct. 1, 2000, the second on May 1, 2014, Builder Company filed its lien on September 1, 2014 and the tax lien was filed on September 15, 2014. Give me the priority list for the above liens (who is first, second, third and fourth) with an explanation.

Answer rating: 100% (QA)

The priority list for the liens in this scenario would be as follows 1 First Mortgage The first mort... View the full answer