Author Question: Wells Fargo is foreclosing on its June 2007 mortgage (recorded on June 17, 2007 ) on Jordin Levin's ... (Read 94 times)

LaDunn · **on:** Jun 24, 2018

Wells Fargo is foreclosing on its June 2007 mortgage (recorded on June 17, 2007 ) on Jordin Levin's home because she has been in default on her mortgage with Wells Fargo for over six months, from June 1, 2009 through December 31, 2009. Jordin had Classy Closets install cupboards in her garage just two months prior to the foreclosure. Classy Closets filed a financing statement on November 17, 2009. Jordin owes Classy Closets 2,300 for the cabinets. When Classy Closets is notified of the foreclosure on January 17, 2010, Classy Closets arrives at Jordin's home and removes the cabinets. The removal caused some damage to the garage floor and also left some holes in the drywall that require repair. The total cost of repair is 158. Wells Fargo says the value of the home is reduced by 2,458 because of Classy Closets' removal of the cabinets and the damages. Assuming Classy Closets is entitled to remove the cabinets, what obligations would it have to Wells Fargo?
A) No obligations because it had priority
B) The obligation to pay 2,458 for the damages caused to Wells Fargo
C) No obligations because Jordin is responsible for any damages to Wells Fargo
D) The obligation to pay 158 to Wells Fargo

Question 2

Consumer goods are classified into different categories based on the physical characteristics of the goods.
Indicate whether the statement is true or false