Late charges on a loan:
A) are charged at a standard $50.00 per month
B) cannot legally be charged
C) added to the balance of the loan
D) may not exceed five dollars or 10 percent of the principal and interest part of an installment payment, whichever is greater
Correct Answer:
Verified
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Q16: A lender foreclosed on a California home
Q17: Under a trust deed (deed of trust)
Q18: RESPA stands for:
A) Real Estate Settlement Procedures
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