Chapter 12 Flashcards by Verlin Miller

Q

Lien Theory State

A

Mortgagor retains ownership

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Q

Promissory Note

A

Personal debt w/rate, amount & term

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Q

Receivership Clause

A

Income producing property

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Q

Effect of loan discount

A

Each point equals plus 1/8 (10.75)

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Q

Equity right of redemption

A

Cure default before foreclosure

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