A lien on real property, documented by a signed mortgage contract gives the lender the right to:
(a) Collect a particular interest rate on the loan.
(b) Collect monthly payments for insurance and taxes and place them in an escrow account.
(c) Go to court and/or sell the property if the owner defaults any of the provisions of the mortgage
(d) Sell the servicing rights to the loan to another investor.
Answer: (c) Go to court and/or sell the property if the owner defaults any of the provisions of the mortgage
You might also like to view...
How can a researcher determine the information needed while doing background research in order to broaden their understanding of the topic's history, context and structure, and categories?
A) Analyzing the research question and topic B) Identifying audience concerns and needs C) Establishing scope of the research D) Defining research activities E) Developing a work plan
A country experiencing a serious BOT ________ is more likely to ________ exports than otherwise
A) surplus; contract B) surplus; expand C) deficit; expand D) none of the above