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When a man purchased land to build his house, a mortgage lien was placed on the property and recorded on July 1, 2014. The man is now obtaining a construction loan. This will create a mortgage lien that will be dated October 10, 2015, but will take priority over the earlier lien. s The first mortgage must have contained A. an acceleration clause. B, an alienation clause. C. a defeasance clause. i oub inuor SUCG ON D. a subordination clause.

When a man purchased land to build his house, a mortgage lien was placed on the property and recorded on July 1, 2014. The man is now obtaining a construction loan. This will create a mortgage lien that will be dated October 10, 2015, but will take priority over the earlier lien. s The first mortgage must have contained A. an acceleration clause. B, an alienation clause. C. a defeasance clause. i oub inuor SUCG ON D. a subordination clause.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
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a deed in lieu of foreclosure. B. C. a deed of trust. D. a personal check. dmun When a man purchased land to build his house, ho A. В. breiqylle C. D lien was placed on the property a mortgage and recorded on July 1, 2014. The man is now obtaining a construction loan. This will create 7. A lien that will be dated October 10, a mortgage 2015, but will take priority over the earlier lien. si l in The first mortgage must have contained A. an acceleration clause. B. an alienation clause. C. a defeasance clause. a 1 D. a subordination clause. E A new homeowner has a mortgage loan in which voig ) the homeowner only pays the interest due on the $180,000 loan for 10 years. At the end of the 10 years, the homeowner will owe the entire princi- pal balance of $180,000. This is A. a straight or term loan. В. 8. Sug 10 AH9 ods yd bouani a fully amortized loan. C. a subordinated loan. D. a partially amortized loan.iom searbng s g.anom Three discount points are being charged on a $250,000 mortgage loan. This $7,500 will A. be a credit to the seller. B. be considered prepaid interest
Transcribed Image Text:a deed in lieu of foreclosure. B. C. a deed of trust. D. a personal check. dmun When a man purchased land to build his house, ho A. В. breiqylle C. D lien was placed on the property a mortgage and recorded on July 1, 2014. The man is now obtaining a construction loan. This will create 7. A lien that will be dated October 10, a mortgage 2015, but will take priority over the earlier lien. si l in The first mortgage must have contained A. an acceleration clause. B. an alienation clause. C. a defeasance clause. a 1 D. a subordination clause. E A new homeowner has a mortgage loan in which voig ) the homeowner only pays the interest due on the $180,000 loan for 10 years. At the end of the 10 years, the homeowner will owe the entire princi- pal balance of $180,000. This is A. a straight or term loan. В. 8. Sug 10 AH9 ods yd bouani a fully amortized loan. C. a subordinated loan. D. a partially amortized loan.iom searbng s g.anom Three discount points are being charged on a $250,000 mortgage loan. This $7,500 will A. be a credit to the seller. B. be considered prepaid interest
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