Taking Steps to Determine That a Potential Customer Has the Need

question 127

True/False

Taking steps to determine that a potential customer has the need, financial capability, and authority to make a purchase is called canvassing.

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Definitions:

Mortgagor

The borrower in a mortgage agreement, who pledges property to the lender as security for the loan.

Fixed Rate

An interest rate that remains constant over the duration of the loan, bond, mortgage, or any financial product.

Loan

A sum of money that is borrowed, typically from a financial institution, which is expected to be paid back with interest.

Writ of Attachment

A legal document issued by a court that allows for the seizure of property before the finalization of a lawsuit to secure the potential judgment.