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

question 10

Multiple Choice

In which of the following circumstances will an original mortgagor,who has allowed its mortgage to be assumed by another,be held free of liability for repayment should the new buyer default under the assumed mortgage?

• A) there is a deficiency in assigned insurance proceeds
• B) the original mortgagor agrees to pay a penalty for lost interest
• C) failure to notify original mortgagee of renewal of mortgage
• D) the lending bank assigned the mortgage to another financial entity

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Definitions:

Retail Locations

The physical places where retail businesses operate, strategically chosen for factors like customer accessibility, competition, and cost.

Style Guidelines

A set of standards and rules to ensure consistency and quality in the design, branding, or presentation of materials and products.

Mass Customization

A strategy that allows for the production of goods and services to meet individual customer needs with near mass production efficiency.

Additional Features

Extra functions or services included with a product or service that provide additional value or convenience to the customer.