Exam 26: Credit,Mortgages,and Debtor's Rights

The right to redemption doctrine only allows redemption of partial interest for the mortgagor.

Credit that does not require any collateral to protect the payment of the debt is referred to as ________.

Melissa owes her bank money for her credit card bills.For the past two weeks, debt collectors have been harassing her for bill payment by sending people over to her workplace.Her boss expressly asks her to not have such meetings at the workplace.But despite requesting the collection agency, the collectors continue to visit her at her workplace.Which of the following Acts has provisions that would help protect Melissa from such harassment?

The ________ Act is a federal statute that prohibits discrimination in the extension of credit based on sex, marital status, race, color, national origin, religion, age, or receipt of income from public assistance programs.

A(n)________ is an arrangement in which a third party promises to be secondarily liable for the payment of another's debt.

Notice of the lien must be given to the owner of the real property.

The term ________ refers to a contractor's, laborer's, and material person's statutory lien that makes the real property to which services or materials have been provided security for the payment of the services and materials.

Which of the following Acts is particularly designed to regulate the home loan market, and put the burden on lenders to verify that a borrower can afford to repay the loan for which he or she has applied?

A lien release discharges a material person from a mechanic's lien.

Regulation of mortgage lending comes under the purview of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Legal action cannot be bought against a debtor who is judgment proof.

The ________ requires a mortgage or deed of trust to be recorded in the county recorder's office of the county in which the real property is located.

In a guaranty agreement, the guarantor is primarily liable on the debt.

The garnishor is the party that is in possession of the debtor's property.

In a deed of trust, the trustee has full legal rights to possession of the real property.

Which of the following writs is a prejudgment writ?

Which of the following is true about the surety's liability to pay in a surety arrangement?

Surplus money obtained from a foreclosure sale must be given to the mortgagor.

To which of the following type of mortgages does the antideficiency statute apply?

The primary function of collateral is to secure payment of the loan.