Which of the following could be pursued by the lender for a deficiency
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home on 4 acres
A contract is written so the seller will carry back a portion of the sales price. After the
close of escrow, the seller sells the carryback loan to another party. Which statement
describes this action?
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assignment of beneficial interest
, When a loan is sold from one lender to another lender, it is:
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assigned
The vendor has elected to foreclose an agreement for sale as a mortgage. Which of
the following applies?
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redemption
When a buyer buys under a land contract with 10% down, how long would the
forfeiture period be if the buyer defaulted?
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30 days
What would discourage a buyer from taking a bank wraparound mortgage?
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Seller's loan has a alienation clause
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home on 4 acres
A contract is written so the seller will carry back a portion of the sales price. After the
close of escrow, the seller sells the carryback loan to another party. Which statement
describes this action?
Give this one a try later!
assignment of beneficial interest
, When a loan is sold from one lender to another lender, it is:
Give this one a try later!
assigned
The vendor has elected to foreclose an agreement for sale as a mortgage. Which of
the following applies?
Give this one a try later!
redemption
When a buyer buys under a land contract with 10% down, how long would the
forfeiture period be if the buyer defaulted?
Give this one a try later!
30 days
What would discourage a buyer from taking a bank wraparound mortgage?
Give this one a try later!
Seller's loan has a alienation clause
