In Which of the Following Circumstances Will an Original Mortgagor,who

question 42

Multiple Choice

In which of the following circumstances will an original mortgagor,who has allowed its mortgage to be assumed by a new buyer,be held liable under the assumed mortgage?

• A) if there is a deficiency in assigned insurance proceeds
• B) if the original mortgagor agrees to pay a penalty for lost interest
• C) if the new buyer defaults under the terms of the mortgage
• D) if the lending bank assigned the mortgage to another financial entity

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