The IRC defines "primarily protected" as either having "considerably all of the earnings of the obligation - which mortgages have the hifhest right to payment'. mortgages or corporate bonds which has higher credit risk. utilized to acquire or to enhance or secure an interest in real home that, at the origination date, is the only security for the commitment" or having a reasonable market price of the interest that secures the commitment be at least 80% of the adjusted issue rate (typically the amount that is lent to the debtor) or be festiva timeshare at least that amount when added to the REMIC - how does bank know you have mutiple fha mortgages - what is a non recourse state for mortgages.
