Exam (elaborations)
PRACTICE NMLS 229 TERMS WITH COMPLETE SOLUTIONS
- Course
- Institution
Acceleration Clause Correct Answer: Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) Correct Answer: Says you must repay your mortgage if you sell your home to a new owner (loan is not a...
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