Mortgagor - Study guides, Class notes & Summaries

Borrower (Mortgagor) - correct answer An individual who applies for and receives funds in the form of a loan and is obligated to repay the loan in full under the terms of the loan. Title - correct answer Title is the document that gives evidence of ownershipof a property. Also indicates the rights ofownership and possession of the property. Individualswho will have legal ownership in theproperty are considered "on title" and will sign themortgage and other documentation Refinancing - co...

CHAPTER 3 Mortgage Loan Foundations: The Time Value of Money TRUE/FALSE 1. In order to solve a compounding problem, you must know all four of the variables in order to solve for the fifth variable. (T) 2. One way to calculate the present value of a single payment is with the following formula: PV = FV * (1+i)n. (F) 3. At 6%, the present value of a $1 payment in 12 months is .. At 7%, the present value of a $1 payment in 12 months is .. (F) 4. The future value of $800 deposited ...

Promissory Note correct answers A written agreement to repay a debt Who is the maker of the note in a promissory note? correct answers The debtor Who is the payee of the note in a promissory note? correct answers The creditor Who is a holder in due course? correct answers One who gets payments Who is the mortgagor? correct answers Borrower Who is the mortgagee? correct answers Lender In Alabama, who has the title until the debt is paid? correct answers The mortgagee Deed of ...

What are examples of real property? correct answers Vacant parking lot Kitchen Faucet Field of crops Shed Tenancy by entirety correct answers No independent right to convey; interest passes to spouse upon death Tenancy in common correct answers May convey to third party; interest passes to heirs upon death Joint tenancy correct answers May convey to third party during life; interest passes to other tenants upon death When partitioning property, courts will first seek to sell the ...

Colorado Real Estate Exam Prep (2023/2024) (Certified Solutions) Title Theory lender owns, borrower has equitable title Hypothecation pledging property as collateral for a loan without giving up possession Mortgagee Lender Mortgagor borrower Non Judicial foreclosure *CO: Public trustee has power to foreclose 1.Lender complains 2. Notice given 3. trustee sells after 125 days Strict foreclosure No sale. Full legal title given to lender, loss of equity for borrower Judicial foreclosure done t...

What method of settling a default involves a conveyance of title to the lender? - deed in lieu of foreclosure A way for the mortgagor (borrower) to avoid foreclosure. The borrower who is in default under the terms of the mortgage gives a deed to the lender - a deed in lieu of foreclosure When a promissory note is executed, it becomes - evidence of the debt The legal instrument that represents the primary evidence of a debt - promissory note A mortgage clause (in title theory states) that pro...

Gold Coast Real Estate Homework Chapter 12 100% SOLUTION 2023//2024 Which legal instrument evidences the debt and states the interest rate, term, payment requirement, and other information related to the loan? (a) Promissory note (b) Contract (c) Lien (d) Mortgage - ANSWER (a) Promissory note What is the function of a mortgage? (a) It conveys title to real property. (b) It secures the repayment of the debt. (c) It creates a personal pledge to repay a loan. (d) It creates a lien ...

FRM 2 Question and answers correctly solved 2024/2025 FRM 2 Netting Factor - correct answer sqrt(n + n (n - 1) p) / n Ho-Lee Model - correct answer dr = lambda(t)*dt + sigma*dw Vasicek Model - correct answer dr = k*(theta - r)*dt + sigma*dw Half-life = ln(2)/k Cox-Ingersoll-Ross Model (CIR) - correct answer dr = k*(theta - r)*dt + sigma*sqrt(r)*dw Friction 1: Mortgagor and Originator - correct answer The borrower may not even be aware of the financing options availa...

NYREI Terms Exam Questions and Answers Accession - CORRECT ️️ Gives property owners the right to everything produced by their land Accessory Apartment - CORRECT ️️ an apartment within a single family dwelling Accord and Satisfaction - CORRECT ️️ an agreement to accept something different (usually less) from what the original contract required Accretion - CORRECT ️️ the gradual addition of land by the forces of nature actionable fraud - CORRECT ️️ fraud meeting certain...

WASHINGTON STATE MANAGING BROKER EXAM QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. At what point has listing agent earned a commission? - -When a ready, willing, and able buyer is found. If the seller backs out after accepting the offer, even if the buyer agrees to a rescission, the commission is still due. At closing, a sale doesn't go through because the seller's anticipated transfer to another city gets suddenly postponed, and the seller no longer wants to sell. Does the seller owe...