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Azure Tide 12 (complete)Questions and Answers
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Azure Tide 12 (complete)Questions and Answers
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10/8/24, 6:55 AMScheduled maintenance: October 9, 2024 from 01:45 AM to 03:45 AM
Azure Tide 12
Jeremiah
Terms in this set (25)
A contract for deed is also called a land True
contract.
Florida is a title theory state. False, Florida is a Lien Theory state
When a buyer assumes an existing False
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.
Hypothecation allows a person to live in a True
home that has been pledged as collateral.
For every discount point purchased, the True
lender's yield increases by 1/8 of a percent.
Even with an amortized mortgage, a True
buyer's loan payment covering PITI will
change occasionally if the property taxes
and homeowner's insurance increases or
decreases.
The acceleration clause calls the entire True
balance of the loan due if the borrower
defaults on the loan.
If upon a foreclosure, there isn't enough True
money to even pay off the debt to the
mortgagee, then a deficiency judgment can
be placed against the borrower.
1 Discount point on a $100,000 mortgage False
would cost $2,500
In a lien theory state, the lender holds title. False
Azure Tide 12
1/3
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