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Tutorial 2 - Questions

Chapter 2 discusses key concepts in real estate financing, including the distinction between a mortgage and a note, the meaning of default, and the process of mortgage foreclosure. It also covers lender actions such as acceleration and forbearance, as well as borrower rights regarding loan repayment and the implications of non-recourse financing. Additionally, the chapter explains the concept of assignment and its significance for lenders in managing mortgage loans.

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Sweethaa Arumugam
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45 views1 page

Tutorial 2 - Questions

Chapter 2 discusses key concepts in real estate financing, including the distinction between a mortgage and a note, the meaning of default, and the process of mortgage foreclosure. It also covers lender actions such as acceleration and forbearance, as well as borrower rights regarding loan repayment and the implications of non-recourse financing. Additionally, the chapter explains the concept of assignment and its significance for lenders in managing mortgage loans.

Uploaded by

Sweethaa Arumugam
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Chapter 2

Real Estate Financing: Notes and Mortgages

1. Distinguish between a mortgage and a note.

2. What does default mean? Does it occur only when borrowers fail to make scheduled
loan payments?

3. What is meant by mortgage foreclosure, and what alternatives are there to such
action?

4. What does it mean when a lender accelerates on a note? What is meant by


forbearance?

5. Can borrowers pay off, part or all, of loans anytime that they desire?

6. What does non-recourse financing mean?

7. What does assignment mean and why would a lender want to assign a mortgage loan?

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