Mortgages or Deeds of Trust Quiz Attempt #2

During which step in the process of transferring a deed will the title of the property actually be transferred to the recipient?

Which deed requires the borrower to maintain enough hazard insurance to cover the amount of the debt?

When a buyer is financing the purchase of a home in Georgia, what document will be accompanied with the note that will be signed at the closing?

According to a clause in a mortgage document when does a lender is permitted to declare the entire debt payable if the payable if the borrower defaults on loan payments?

The legal title to the lender is conveyed through the _____ in Georgia:

Who must sign a deed?

Which of the following is a call option similar to?

On an impounded loan, list the four components of a monthly mortgage payment?

Which of the following descibes a “periodic rate cap”?

What is a late charge?

How soon must deeds of conveyance be recorded after closing?

The use of the security deed in Georgia permits a lender to ______ without going to court.

If a borrower signs a security deed on a residential property but then plans to rent out the property. The borrower:

A lender can also be referred to as a(n) _______.

The “Secondary Market” is: