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WA RE Exam 2 | Questions with 100% Correct Answers | Updated & Verified
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A promissory note that is secured by a mortgage is: a. a defeasance agreement b. primary evidence of the debt c. a guarantee of payment d. security for the loan - b. primary evidence of the debt Which of the following is an advantage of using private mortgage insurance, from a borrower's perspective? a. It allows for a smaller downpayment b. It protects against default c. It protects the buyer's little against other claimants d. It reimburses a borrower for property damage from problems like fire or flooding - a. It allows for a smaller downpayment
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