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Azure Tide 12 Exam Questions and Complete Solutions Graded A+
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Azure Tide 12 Exam Questions and Complete Solutions Graded A+
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Azure Tide 12 ExamQuestions and Complete
Solutions Graded A+
A contract for deed is also called a land contract. - Answer: True
Florida is a title theory state. - Answer: False, Florida is a Lien Theory state
When a buyer assumes an existing mortgage, a partial release will be issued which verifies the amount
of the unpaid balance, interest rate, and date to which interest has been paid prior to the assignment. -
Answer: False
Hypothecation allows a person to live in a home that has been pledged as collateral. - Answer: True
For every discount point purchased, the lender's yield increases by 1/8 of a percent. - Answer: True
Even with an amortized mortgage, a buyer's loan payment covering PITI will change occasionally if the
property taxes and homeowner's insurance increases or decreases. - Answer: True
The acceleration clause calls the entire balance of the loan due if the borrower defaults on the loan. -
Answer: True
If upon a foreclosure, there isn't enough money to even pay off the debt to the mortgagee, then a
deficiency judgment can be placed against the borrower. - Answer: True
1 Discount point on a $100,000 mortgage would cost $2,500 - Answer: False
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