Question
Discussion #7:Part I:Priority and Termination of the Mortgage; Part II:Nonconsensual Liens Course Content Learning Objective:Describe and explain important legal concepts, demonstrate the ability to apply
Discussion #7:Part I:Priority and Termination of the Mortgage; Part II:Nonconsensual Liens
Course Content Learning Objective:Describe and explain important legal concepts, demonstrate the ability to apply them to new situations, and communicate solutions
Chapter 11 Learning Objective:Priorities with mortgages in security devices; nonconsensual liens
Part I:Priority, Termination of the Mortgage, and Other Methods of Using Real Estate as Security - Read each of the questions below and write your complete answers making certain to clearly identify your answers to each question.Be complete in your responses.
1. Under what interest rate circumstances would banks insist on a due-on-sale clause? Under what interest rate circumstance would banks not object to a new person assuming the mortgage?
2. What is the primary advantage of the deed of trust? What is the primary advantage of the land contract?
3. A debtor defaulted on her house payments. Under what circumstances might a court not allow the bank's foreclosure on the property?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started