Real Estate Finance Quiz with Accurate Answers

hypothication - ANSWER-bank giving you right to live in a house while you're paying for it title theory - ANSWER-live in it but don't own till paid off lien theory - ANSWER-owner while paying but bank has lien default - ANSWER-broke a promise, failure to comply with terms & conditions of a loan 1. don't make your own payments 2. don't pay insurance 3. don't pay taxes 4. run down property 5. illegal purposes 6. bankrupt 7. die - ANSWER-ways to defaut residential - ANSWER-purchase $ mortgage loan equity loan - ANSWER-residential or commercial, so risky there is a three day delay business RE - ANSWER-commercial * - ANSWER-banks can seek federal or state charter, know it's fed if national is in the name national charter - ANSWER-belong to fed reserve, FDIC, controlled of the currency