Real Estate Principles- Quiz 8
A provision that gives the lender the right to demand full payment of a mortgage upon sale of the property is
A due-on-sale clause
An instrument by which property is hypothecated to secure the payment of debt or obligation is known as
A mortgage
The repayment of a loan in equal installments that includes both interest and principal reduction is referred to as
An amortized loan
The security instrument of choice in California is the
Deed of trust
The federal agency that insures savings accounts is the
FDIC
The cost of using money BEST describes
Interest
Which of the following is NOT an institutional lender?
Mortgage Company
RESPA regulates loans for which of the following?
One-to-four-unit family dwellings
Real estate loans generally include a promissory note and a
Security Instrument
Money is a medium of exchange as well as a measure of
Value
