Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
8 Cards in this Set
- Front
- Back
A provision in loan docs that gives the lender the right to demand immediate payment in full if the borrower defaults |
Alienation Clause |
|
provision in a security instrument that gives the lender the right to accelerate the loan if the borrower transfers the property also known as due on sale clause |
Acceleration Clause |
|
2 interest rates controlled by the fed that have an effect on market interest rates |
Discount rate and federal funds rate |
|
When the narrower agrees to take on the personal liability for repayment of the existing mortgage or deed of trust |
Assumption |
|
Provision giving the borrower the right to regain title to property when debt is repaid |
Defeasance Clause |
|
Releasing property from lien , from mortgagee to mortgagor |
Satisfaction of Mortgage |
|
Document the trustee give the trustor |
Deed of reconveyance |
|
In a non-judicial forclosure, the borrower is entitled to ... |
Reinstatement of the loan |