If Property Owners Fail to Pay Their Taxes in a Timely

question 30

Multiple Choice

If property owners fail to pay their taxes in a timely fashion, this can create a first lien on the mortgaged property. In order to protect against this, lenders often require that borrowers add what fraction of their estimated tax bill to their required monthly mortgage payments?

• A) 1/12
• B) 1/6
• C) 1/4
• D) 1/2

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Definitions:

Type 2 Diabetes

A chronic condition affecting the way the body processes blood sugar (glucose), characterized by insulin resistance.

Hyperglycemia

A condition characterized by higher than normal levels of glucose (sugar) in the blood.

Hyperglycemia

A condition characterized by high levels of glucose in the blood, often associated with diabetes and requiring management of sugar intake.

Bloodstream

The flow of blood within the circulatory system of a body.