Foreclosure

Foreclosure

1st - 5th Grade

10 Qs

quiz-placeholder

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Foreclosure

Foreclosure

Assessment

Quiz

Professional Development

1st - 5th Grade

Practice Problem

Hard

Created by

Jeanne Aguilar

Used 3+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the real estate mortgage is silent, the mortgagee-creditor can choose to either institute extrajudicial foreclosure or judicial foreclosure of real estate mortgage.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The parties can agree on the venue in an action for extra-judicial foreclosure of real estate mortgage.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Publication is mandatory in extrajudicial foreclosure of mortgage.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Written notification is required to be given to the mortgagor on an impending extrajudicial foreclosure of mortgage.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The issuance of a writ of possession can be stayed by a pending case for nullification of the extrajudicial foreclosure on the ground of usurious interest rates.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a chattel mortgage, the mortgagor still has a right of redemption to redeem the property after the sale.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Both real and chattel mortgages can cover present and future loans to be taken by the borrower.

True

False

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