Technically speaking, the ______ creates the debt and specifies the terms under which which the loan must beta repaid, while the _____ pledges the real estate as collateral for the loan. mortgage; promissory note debenture; securitizor promissory note; mortgage loan clauses; mortgage clauses mortgage clauses; loan clauses A ______ is a sale of real estate in which the proceeds from the sale are less than the amount owed on an existing mortgage. friendly foreclosure secondary market sale short sale None of the above All else equal, the lender's expected yield on a 1-year ARM will be ____ the expected yield on a 5-1 ARM. the same as lower than higher than There is not enough information to determine the answer to this question. All else equal, the lender's expected yield on an ARM with interest rate caps will be _____ the expected yield on an ARM without caps. the same as lower than higher than There is not enough information to determine the answer to this question. Derek owns a house worth $350,000 and owes $75,000 on his existing mortgage. He would like to take out a 70 percent LTV reverse mortgage with a 15-year term and a 6.5 percent interest rate. Assuming Derek takes out no cash up front, what we'll Derek's monthly annuity payment be from this loan? $807.13 $634.17 $153.80 $499.71 None of the above; the correct answer is _____