Multiple Choice
Choose the one most appropriate answer for each.
-any mortgage lower than a first mortgage in priority
A) acceleration clause
B) alienation clause
C) assumption
D) chattel mortgage
E) deed of trust
F) defeasance clause
G) deficiency judgment
H) equitable mortgage
I) equity of redemption
J) first mortgage
K) foreclosure
L) junior mortgage
M) mortgage
N) mortgagor
O) partial release
P) power of sale
Q) promissory note
R) public auction
S) subject to
T) subordination
Correct Answer:

Verified
Correct Answer:
Verified
Q7: When a loan evidenced by a note
Q8: Who benefits the most by the inclusion
Q9: Choose the one most appropriate answer for
Q10: Which lien would have highest priority?<br>A) Property
Q11: Choose the one most appropriate answer for
Q13: Betty is six months behind on her
Q14: A "due on sale" clause<br>A) may be
Q15: Choose the one most appropriate answer for
Q16: Choose the one most appropriate answer for
Q17: A nonjudicial foreclosure does not go to