
Real Estate 12
Authored by Andrea Douling
Professional Development
Professional Development
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6 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A deed of trust is filed with the Land Records department of the circuit court in the county in which the property is located.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Do you have to sign a promissory note when purchasing a home?
Yes
No
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What documents gives the the lender the authority to foreclose if you don't make your monthly payments?
HUD-1
Deed of trust (Mortgage)
Note
Promissory note
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who signs the Release Deed?
the borrower
the lender
the trustee
county clerk's office
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
After the lender signs the release deed, where does the deed go?
to the public trustee
to the county's clerk's office
to the borrower
back the the lender
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the note marked with?
Paid
Paid in Full
Release
Zero Balance
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