With respect to the mitigation of balloon risk, what is meant by an internal tail?
What will be an ideal response?
The internal tailis the first of two types of structural provisions that can be present in CMBS transactions to mitigate balloon risk. It requires the borrower to document efforts to refinance the loan within one year of the balloon maturity date. Within six months prior to the balloon maturity date, the borrower must obtain a refinancing commitment.
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In Texas, if an owner defaults on her mortgage loan and the property is sold at a foreclosure sale, the owner may redeem the property
A) prior to the sale, under the statutory right of redemption. B) prior to the sale, under the equitable right of redemption. C) after the sale, under the statutory right of redemption. D) after the sale, under the statutory right of reinstatement.
OSHA places three obligations on employers, including:
A) offering low-cost health insurance to injured workers. B) keeping records of all occupational injuries and illnesses. C) providing a pension for survivors of any employee killed on the job. D) implementing non-smoking work environments in large firms.