Real estate Flashcards
1
Q
What is a mortgagor
A
the buyer (borrower)
2
Q
Who is a mortgagee
A
mortgage company
3
Q
the borrower under a deed of trust is called the
A
trustor
4
Q
In a land contract , the vendee
A
has possession during the term of the contract.
The vendee is a buyer
5
Q
A borrower has defaulted on a loan. Which of these best describes the rights of the lender in this situation?
A
The acceleration clause in the note gives the lender the right to have all future installments due and payable immediately on default
