When the Mortgage Lender Agrees to Release Its Mortgage for Less

question 39

Multiple Choice

When the mortgage lender agrees to release its mortgage for less than the owed debt, the sale is called:

• A) a power of sale
• B) a short sale
• C) an exchange sale
• D) an escrow sale

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Definitions:

Surge Protector

A device that protects electrical appliances from voltage spikes by limiting the voltage supplied to the appliance.

Power Inverter

A Power Inverter is an electrical device that converts direct current (DC) into alternating current (AC), allowing the use of household appliances in situations where only DC power is available.

Tailgating

An unauthorized person following an authorized individual to enter a secure area, bypassing physical security measures.