FinancingPregunta 87 de 120
A due-on-sale clause, also called an alienation clause, allows the lender to:
a.Lower the interest rate on sale
b.Extend the loan term automatically
c.Demand full repayment when the property is sold or transferred
d.Forgive the remaining balance
Explicación
A due-on-sale or alienation clause permits the lender to call the entire loan balance due when the secured property is sold or transferred. It prevents buyers from freely assuming the existing loan. This protects the lender's ability to reprice the loan at current rates.
Referencia Legal: CA Civil CodePractica las 120 preguntas gratis — sin registro.
Preguntas relacionadas de este tema
- A lender will make a loan at a maximum 75% LTV on a property appraised at $500,000. The largest loan available is:
- A borrower has a $240,000 interest-only loan at 6% annual interest. The monthly interest payment is:
- A buyer makes a $90,000 down payment on a $450,000 home and finances the rest. The loan-to-value ratio is:
- A clause in a loan that allows an existing lien to move to a lower priority position behind a new loan is a:
- A clause that allows a lender to declare the entire loan balance due immediately upon the borrower's default is an:
- In California, the most common method of foreclosing a deed of trust after default is a:
Última revisión: · proceso editorial
Equipo Editorial de PrepPass · Verificado con California DRE Real Estate Salesperson License Exam · Cómo revisamos