FinancePregunta 83 de 120
A borrower's ability to reclaim the property by paying the full debt before a foreclosure sale is known as the:
a.Right of rescission
b.Right of subrogation
c.Equitable right of redemption
d.Statutory acceleration
Explicación
The equitable right of redemption lets a defaulting borrower pay the entire debt plus costs to stop the foreclosure and keep the property before the sale. Some states also provide a statutory redemption period after the sale for certain loans.
Practica las 120 preguntas gratis — sin registro.
Preguntas relacionadas de este tema
- The federal law that requires lenders to disclose the annual percentage rate (APR) and total finance charges to consumers is the:
- The Real Estate Settlement Procedures Act (RESPA) primarily regulates:
- Foreclosure under a Texas deed of trust with a power-of-sale clause is often carried out through:
- In a mortgage assumption, the buyer:
- The loan-to-value (LTV) ratio is calculated as the:
- A buyer purchases a home for $300,000 and makes a $60,000 down payment. What is the loan-to-value ratio?
Última revisión: · proceso editorial
Equipo Editorial de PrepPass · Verificado con Texas Real Estate Sales Agent Licensing Exam · Cómo revisamos