Real Estate Principles- Quiz 8

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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


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