CA Real Estate Finance Course » 2021 » Sec 12 Unit 1 Exam
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Question #1
Two examples of loan adjustments or modifications are recasting and ______.
A.
Mortgage lien
B.
Foreclosure
C.
Short sale
D.
Moratorium (or forbearance)
Question #2
Rather than face foreclosure, Tony decides to cut his losses. He voluntarily conveys his property to his lender. What type of foreclosure alternative is this?
A.
Voluntary conveyance of deed
B.
Short sale
C.
Bankruptcy
D.
Repayment plan
Question #3
Two areas of vulnerability for the lender occur when homeowners insurance is allowed to lapse. What are they?
A.
Property damage and judgment liens
B.
Liability and deed recording
C.
Code enforcement and property damage
D.
Property damage and neighbor disputes
Question #4
Two examples of loan adjustments or modifications are moratorium and ______.
A.
Deferring
B.
Reshaping
C.
Recasting
D.
Redefining
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