A Clause in a Mortgage Specifies That "If the Mortgaged

question 37

Multiple Choice

A clause in a mortgage specifies that "if the mortgaged property is sold,then the remaining balance becomes immediately due and payable." This clause is called:

• A)action and sale clause.
• B)strict foreclosure clause.
• C)due on sale clause.
• D)subrogation clause.

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Definitions:

Consumer Price Index

An index that measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Consumer Price Index

A metric that tracks the average variation in prices that urban buyers pay for a selection of consumer products and services over a period.

Rising Cost

An increase in the price or expense of goods, services, or operational activities over time.