Discuss fully each type of residential mortgage loan

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Reference no: EM133191913

Practical Real Estate Law Textbook)

Chapter 1-Financing Sources in Real Estate Transactions

Question 1. Discuss fully each type of residential mortgage loan. Be sure to include in your discussion, the risks, if any, attributable to each.

Question 2. Explain fully the difference between the primary market and the secondary market.

Question 3. Assume a mortgage loan with an outstanding principal balance of $100,000.00 and an interest rate of 6.0%. The loan is to be repaid over 10 years. The monthly mortgage payment is $500.00 plus accrued interest. What type of amortization plan is this?

Chapter 2-Legal Aspects of Real Estate Finance

Question 4. Explain fully what a promissory note is and detail all parties to a promissory note.

Question 5. What is the importance of being a holder in due course? What are the exceptions to a holder in due course defeating most of a maker's defenses?

Question 6. Katherine has obtained a loan from ABC Bank. Katherine signed a negotiable note for $100,000 and secured the note by giving ABC Bank a mortgage on her home. The home burns down and Katherine does not have homeowner's insurance. Without insurance proceeds or other money to pay for the home to be restored, Katherine wants to stop payment on the note. Is Katherine still responsible to ABC Bank for the payment of the note? Explain your answer fully.

Question 7. Define endorsement fully. Explain fully the endorser's liabilities.

Question 8. What are the types of foreclosures that are available in the State of Maryland?

Chapter 3-Mortgage Forms and Provisions

Question 9. Explain fully the difference between a security agreement and a financing statement.

Question 10. What does a rent assignment in a commercial loan mortgage include?

Reference no: EM133191913

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