Question: What would your answer be in Problem 5 if Mr. Nelligans mortgage was not recorded? Data from problem 5 Mort owns a property. Jessica Rosen

What would your answer be in Problem 5 if Mr. Nelligan’s mortgage was not recorded?


Data from problem 5

Mort owns a property. Jessica Rosen holds a first mortgage against it, and Alex Nelligan holds a second mortgage. Mort defaults on his mortgage payments. Ms. Rosen forecloses without joining Mr. Nelligan in the foreclosure suit. The property is sold to Shelia McBride at the foreclosure sale. 

Step by Step Solution

3.49 Rating (166 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Assuming Ms Rosen and Ms McBri... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Real Estate Principles Questions!