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