Lenders prefer a deed in lieu of foreclosure to a foreclosure because ___________?

a. The lender doesnt have to sell the house if a deed in lieu is accepted.

b. The lender doesnt have to worry about junior lenders or other liens against the real estate.

c. The lender avoids the time and costs of foreclosure.

d. The lender does not have maintain the property after accepting a deed in lieu

If you borrowed $500,000 and you owed $400,000 when the loan came due after 5 years, you would have obtained a(n) _________________.

a. fully amortized loan.

b. interest only loan.

c. partially amortized loan.

d. negative amortization loan.

Commercial loans differ from residential loans in that

a. Commercial loans typically have a fixed rate of interest as compared to residential loans.

b. Commercial loans typically require a lower down payment that residential loans.

c. Commercial loans typically focus on the propertys ability of generating income before the borrowers ability of repaying the loan.

d. Commercial and residential loans do not have different underwriting / loan decision requirements.

In order to be approved for a real estate loan, the lender must approve _____________.

a. The applicant.

b. The subject property.

c. Either the applicant or the property.

d. Both the applicant and property being purchased.