A promissory note: is only used with deeds of trust. creates a lien against the property. is only used with mortgages. makes a promise to repay a debt. The date a loan is to be paid off is called the: maturity date. final payment date. accrued date. due date. A promissory note that includes periodic payments of principal and interest is called a(n): installment note. straight note. secured note. partial note. Which of the following are parties to a deed of trust? Trustee Beneficiary All of them Trustor A fictitious trust deed: is filled out except for the first page. is not legal in California. is only used for commercial property. is not completely filled out. When a loan agreement doesn't give the borrower the option to prepay, the loan is said to be: a secured loan. locked in. a deeded loan. a partially amortized loan. When an owner takes a property "subject to": the new owner is responsible for any deficiency judgment. the new owner cannot lose the property to foreclosure. the former owner is responsible for any deficiency judgment. the new owner is always responsible for any liens. A later filed trust deed that is given a higher priority is called a: superior trust deed. priority trust deed. subordinated trust deed. subordinating trust deed. Which of the following is a way for a borrower to prevent a foreclosure process? All of them Give the lender a deed in lieu of foreclosure Redeem the property Cure the default to reinstate the loan The parties to a land contract are