Accounting A lender whose mortgagor has defaulted may be offered a deed in lieu of foreclosure. If he accepts, which of the following will be true? a) because its voluntary, it will not be adverse item on buyers credit b) The lender will take the file subject to any junior liens ) the lender will USually reatin his rights

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Accounting
A lender whose mortgagor has defaulted may
be offered a deed in lieu of foreclosure. If he
accepts, which of the following will be true?
a) because its voluntary, it will not be adverse
item on buyers credit
b) The lender will take the file subject to any
junior liens
c) the lender will usually reatin his rights
under mortagage insurance or VÀ guarantee
d) the loan will still be assumable
Transcribed Image Text:Accounting A lender whose mortgagor has defaulted may be offered a deed in lieu of foreclosure. If he accepts, which of the following will be true? a) because its voluntary, it will not be adverse item on buyers credit b) The lender will take the file subject to any junior liens c) the lender will usually reatin his rights under mortagage insurance or VÀ guarantee d) the loan will still be assumable
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