Write the Word or Phrase That Best Completes Each Statement

question 210

Multiple Choice

Write the word or phrase that best completes each statement or answers the question.
-3x + 5y = -13; (-1, 2)

• A) No
• B) Yes

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Definitions:

Mortgagee's Claim

A claim made by the lender or mortgage holder for payment of the outstanding loan balance from the proceeds of a foreclosure sale.

Due On Sale Clause

A provision in a mortgage allowing the lender to demand full repayment if the property is sold.

Mortgage

A mortgage is a legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the borrower's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Remaining Balance

The total amount still owed on a debt or loan, not including current or future interest.