A property is sold and the buyer promises the seller in writing that he, the buyer, will repay the existing loan. This is called
A) assuming the loan.
B) buying down the loan.
C) loan satisfaction.
D) a partial release.
Correct Answer:
Verified
Q7: Which lien would have highest priority?
A) Property
Q8: The parties to a mortgage are called
A)
Q9: A second mortgage is
A) a seller's lien.
B)
Q10: The phrase "jointly and severally liable" in
Q11: A "due on sale" clause
A) may be
Q13: A promissory note
A) describes the property being
Q14: Barry purchased Bob's home without accepting obligation
Q15: A borrower who wanted to make a
Q16: Which of the following claims against a
Q17: In the United States, the instrument most
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