D Question 14 1 pts With respect to real estate transactions, the Truth-in-Lendi

Question

D Question 14 1 pts With respect to real estate transactions, the Truth-in-Lending Act applies only to loans to purchase commercial property True False 1 pts D Question 15 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 not be able to prove its interest in the property ition of an unsecured creditor. not have a copy of the loan in a separate location. O not obtain reimbursement for any of the loan if the debtor defaults

Explanation / Answer

14. False

Commercial loan, business loans an agricultural loans are exceptions in this act.

15. Not obtain reimbursement for any of the loan if the debtor fails

In such a situation where the lender fails to record the mortgage, the lender may not have the right to claim as they are no more aware of the property and it's details.

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