Question 13 (1 point) A residential 1st mortgage borrower is 110 days delinquent and "underwater" (their loan balance exceeds the current market value of the property). All else equal, in which state should the lender be more willing to complete a short sale transaction? Texas, a non-judicial state (deeds of trust) New Jersey, a judicial state (mortgages) Question 14 (1 point) Which is more prevalent with mortgage loan modification, a single action (capitalization or interest rate reduction or ....), or a combination of actions? A combination of actions A single action Question 15 (1 point) Compare a 5-year maturity, 3.3%, 30-year amortization balloon versus a 3.5%, 30-year fully amortizing loan. As a potential borrower, if you expect mortgage interest rates to rise to about 6% after 5 years, and you expect to remain in your house for 10-15 years, you should choose the fully-amortizing loan balloon loan