select the best description of the mortgage note quizlet

The best description of LTV is a percentage of what. A borrower is obtaining a loan for 200000 at 7 for 30 years.

Personal Financial Literacy Chapter 10 Flashcards Quizlet

It commits you to paying your loan is the best description of the mortgage note.

. This answer has been confirmed as correct and helpful. A demand clause in a mortgage loan gives the lender the right at any time they deem necessary to demand ____ of the loan. While the borrower is personally liable in almost all ____ mortgage loans most borrowers are not personally liable for ____ property mortgage loans.

Added 325 days ago8232021 50521 AM. Log in for more information. Select the best description of the mortgage note quizlet Donation inter vivos c.

Most people obtain mortgages of large lenders such as the local branch of a national bank or other financial instituiÃÃ the as the Association saving and emprÃ. Applied Botany Exam 1 Chapter 3 21 terms. In a typical mortgage loan what are the mortgage note and the property called.

Select the best description of the mortgage note. Added 344 days ago7292021 24816 PM. Select the best description of the mortgage note quizlet.

In contrast to other kinds of loans this one is distinguished by the fact that the funding originates from a loan that is backed by a piece of real estate. If the seller agrees to pay discount points to buy down the interest rate to 6 for the first three years and taxes and insurance on the new house amount to 322 per month combines how much money will the borrower have to make on a monthly basis to qualify for a conventional loan at the buydown rate. Select the best description of the mortgage note.

16 N wishes to purchase Ws house for 100000 giving her a 20000 cash down payment in a note and mortgage for the remaining 80000. Select the best description of the mortgage note. Document states that promissory note or bond has been paid in full and the mortgage can be discharged from public records Partial release Occurs when the borrower wants the lender to release a portion of the mortgaged property from the mortgage after part of the loan has been repaid.

To select the best description of the mortgage note we would say that a mortgage is one example of a situation in which a contract which is a type of legal agreement may be utilized. Title insurance protects against future problems with your homes title including claims from previous owner unpaid liens. A mortgage is a type of contract.

Select the best description of the mortgage note.

Chapter 9 3 Homework Flashcards Quizlet