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.
Foreclosure
B.
Moratorium (or forbearance)
C.
Short sale
D.
Mortgage lien
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.
Bankruptcy
B.
Voluntary conveyance of deed
C.
Repayment plan
D.
Short sale
Question #3
Two areas of vulnerability for the lender occur when homeowners insurance is allowed to lapse. What are they?
A.
Liability and deed recording
B.
Property damage and judgment liens
C.
Property damage and neighbor disputes
D.
Code enforcement and property damage
Question #4
Two examples of loan adjustments or modifications are moratorium and ______.
A.
Deferring
B.
Redefining
C.
Recasting
D.
Reshaping
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