Foreclosures Quiz Attempt #3
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Question 1 of 15
1. Question
In order for a lender to foreclose what must the lender do?
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Question 2 of 15
2. Question
Once a sale is made on a foreclosure, how long does the borrower have for redemption?
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Question 3 of 15
3. Question
Define foreclosure:
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Question 4 of 15
4. Question
What is it called when the buyer assumes the seller’s mortgage?
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Question 5 of 15
5. Question
The most reasonable purpose of holding a public auction is:
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Question 6 of 15
6. Question
After closing, how quickly must deeds of conveyance be recorded?
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Question 7 of 15
7. Question
What shows what the borrower is using as collateral for debt in a home loan?
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Question 8 of 15
8. Question
Which type of foreclosure is only used in some states and is handled as a civil lawsuit?
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Question 9 of 15
9. Question
If no redemption is made at the time of the sale, the redemption periods __________.
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Question 10 of 15
10. Question
The right of a borrower to reclaim a property by reimbursing an investor from a foreclosure sale is what?
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Question 11 of 15
11. Question
Which one of these is the most common type of bankruptcy?
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Question 12 of 15
12. Question
Which of the following are the two parts to a loan?
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Question 13 of 15
13. Question
What is a late charge?
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Question 14 of 15
14. Question
Of the following liens, which would usually be given highest priority in distributing funds from a foreclosure sale?
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Question 15 of 15
15. Question
Which of the following describes how a promissory note is used?
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