Answered step by step
Verified Expert Solution
Question
1 Approved Answer
5. The most common procedure for foreclosing a a. Strict foreclosure b. Foreclosure by entry and possession c. Foreclosure by advertisement and sale d. Foreclosure
5. The most common procedure for foreclosing a a. Strict foreclosure b. Foreclosure by entry and possession c. Foreclosure by advertisement and sale d. Foreclosure by writ of entry 6. True/False...A purchase money mortgage is an instrument given to the seller from the buyer to finance the purchase of a single family residence a. True b. False 7. The right of the borrower to pay to the lender the amount of the back payments which were not paid plus some costs and fees associated with the advertisement and sale process is called the a. Right of redemption b. Right of subordination payment c. Right of lis pendens d. Right of reinstatement 8. When a land sale contract is used the vendee has a. Legal title b. Equitable title c. Mens rea title d. Naked title 9. When a land sale contract is used and the borrower fails to pay, the vendor may have a right to a "non-judicial" method of foreclosure that eliminates the borrower's right in the property, the vendor keeps all payments made; the vendor is exercising which of the following remedies? a. Strict foreclosure b. Judicial foreclosure c. Specific performance d. Forfeiture
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started