David Owns a House Worth $100,000

question 13

Multiple Choice

David owns a house worth $100,000.He has an outstanding loan principal of $98,000.David defaults on his mortgage payments.To avoid foreclosure proceedings,David conveys his house to his lender in satisfaction of the mortgage.This is

• A)a short sale.
• B)forbearance.
• C)illegal.
• D)a deed in lieu of foreclosure.

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Definitions:

Ethane Gas

A colorless, odorless gas that is the simplest alkane, with the formula C2H6, used as a fuel and a petrochemical feedstock.

Total Combustion

A complete combustion process in which a fuel burns in oxygen, producing a limited number of products and releasing energy.

Sugar

A sweet-flavored substance, primarily sucrose, lactose, and fructose, derived from various plants and used for human consumption.