What term describes a situation when a mortgagor sells the premises "subject to the mortgage that the grantee assumes and agrees to pay"?
A) Mortgage take-over
B) Mortgage assumption
C) All of the above
D) None of the above
Correct Answer:
Verified
Q11: What does the word "foreclose" mean?
A) Shut
Q12: What clause in a mortgage causes the
Q13: What term describes the right to redeem
Q14: What legal documents grant the right of
Q15: What happens when a mortgagor sells real
Q17: What is a junior mortgage?
A) Second mortgage
B)
Q18: What is involved in refinancing?
A) Extinguishing a
Q19: What document does the mortgagor sign when
Q20: What document shows that specified parcels of
Q21: A mortgage is a conveyance of real
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