A Nonrecourse Note

question 24

Multiple Choice

A nonrecourse note:

• A)results in a borrower becoming personally liable if there is a deficiency at the foreclosure sale.
• B)is the kind of note that homeowners typically sign.
• C)is more advantageous to borrowers than to lenders.
• D)all of the above.

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Definitions:

Self-Fulfilling Prophecy

A belief or expectation that an individual holds about a future event that manifests because the individual holds it.

Subject Bias

The tendency for study participants to respond or behave in a certain way because they are aware they are being observed or evaluated.

Covert Sensitization

A cognitive-behavioral technique involving the use of unpleasant imagery to reduce the occurrence of unwanted behaviors.

Social Identity Theory

A psychological theory positing that a person’s sense of who they are is based on their group membership(s).