Mortgages or Deeds of Trust Quiz Attempt #4

A homewoner conveys property to her brother with a deed. The brother then records the deed. The title to the property will officially be transferred to the brother:

When a buyer is financing the purchase of a home in Georgia, the note that will be signed at the closing is accompanied by _______

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

Call option is similar to

A __________ is a property that is used as a collateral for a loan.

In Georgia, the failure to close a sales contract means that an agreement must be reached by acting parties on how the earnest money should be disbursed, the broker holding the money can do any of the following EXCEPT:

How soon must deeds of conveyance be recorded after closing?

The lender advertises the property in the appropriate county newspaper for _____ weeks

When a borrower signs a security deed on a residential property. The borrower:

What clause in a mortgage document permits a lender to declare the entire debt is payable if the borrower defaults on loan payments?

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

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

A late charge is the penalty

What term can a lender also be referred to as?

The “Secondary Market” is best described as