GA PROPERTY & CASUALTY (25)

Which of the following security instruments, if any, does not allow the debtor the right of redemption upon default? a. Mortgage foreclosure by "action and sale" b. "Strict foreclosure" of mortgage c. Debtors have a right to redeem property under all of these security instruments. d. Deed of trust e. Mortgage foreclosure by "power of sale"

A mortgagee is entitled to certain consideration in the event of a loss to property when indicated as the mortgagee on an insurance policy. Which one (1) of the following is the consideration? OA) The mortgagee is entitled to the proceeds of the insurance to the extent of its financial interest in the property. OB) The mortgagee is entitled to the full proceeds of the insurance. OC) The insured and the mortgagee are permitted to consider the loss and decide between them how much each will receive. OD) The insurer pays the entire loss to the insured who is required to satisfy the mortgagee.

Question Cómpletion If a borrower lives in a recourse state and defaults on a mortgage note that contains an exculpatory clause and the lender receives less than the amount owed on the mortgage when the property is sold, the lender will.. O file for bankruptcy protection seek the difference from the borrower's title insurance company O do nothing since the lender is limited to the proceeds from the sale of the property O take legal action against the borrower to recover the difference QUESTION 6 Suppose you sign up for an annuity in which you save $500 weekly for 35 years. The annuity promises you an annual interest rate of 3% compounded weekly. How much will the annuity be worth in 35 years? (note: there are 52 weeks in a year) $370,781.83 $30,231.04 $910,000 $1,609,214.57 QUESTION 7 Which of the following deed types protects the buyer from encumbrances that arose during the time at which the current grantor held title? O special warranty deed O general warranty deed quitclaim deed O…

What dangers are encountered by mortgagees and unreleased mortgagors when the property is sold “subject to” a mortgage?

All option are Company B, Company A

Have there been any intervening liens? These are liens recorded or attached after the recordation of the mortgage but before any modifications to it. If so, what is their effect upon an extension agreement? If such liens exist, it is possible that the extension of an existing mortgage may amount to a cancellation of the mortgage and the making of a new one. If so, this could advance the priority of intervening liens.

e

2 pt Which of the following is a FALSE statement? O A mortgage does not give the lender a right to be paid from the cash proceeds of the sale of a borrowers' assets identified in the mortgage. O Mortgage notes pledge specific assets as security for the note. O A mortgage contract describes the mortgage terms. O Accounting for mortgage notes and bonds is similar to that for unsecured notes and bonds, except that th mortgage agreement must be disclosed.

STATE: Which of the following statements regarding homeowner's insurance is true? A. The listing agent should advise the seller to cancel homeowner's insurance immediately after by the seller's standard homeowner's going under contract B. Vacant properties are always covered insurance police C. A seller that retains possession after closing may not be covered under their homeowner's insurance policy D. Homeowner's insurance policy premiums are not affected by previous claims

A creditor must file a(n) 44,362 Multiple Choice O lawsuit against the debtor before a creditor can "attach" property. involuntary bankruptcy petition attachment order garnishment petition

All of the following concepts with regard to the evolving title theory of mortgage lending are true EXCEPT a.​lender rights are superior to borrower rights. b.​the lender can dispossess the borrower without notice at first default. c.​no compensation is made for any monies already paid to the lender. d.​the lender has both legal and equitable rights.

Question 1 Rules of the internal revenue service concerning the deductibility of points on a mortgage DO NOT include,   A for a buyer to deduct points the seller paid to reduce his cost basis B Points paid to refinance the property to be fully deductible in the year paid C points paid by the seller to be considered a selling expense D points to be deductible as interest to be paid directly to a lender question 2 which of the folloeing would actually be included in an annual property operating statement of a potential real estate investment A economic base analysis B managment fee C comparative market analysis D investor`s earning potential