The amount of debt, not counting interest, on a loan.

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The amount of debt, not counting interest, on a loan.
A. Principle
B. Appraisal
C. Down payment
D. Commitment


Answer : A

Question 147 ( Topic 1 )
Money given by a buyer to a seller, as part of the purchase price to bind a transaction or assure payment.
A. Down Payment
B. Escrow
C. Earnest money
D. Deed of trust


Answer : C

Question 148 ( Topic 1 )
A legal by which a lender or a seller forces a sale of a mortgaged property.
A. Foreclosure
B. Callable debt
C. Escrow
D. Default


Answer : B

Question 149 ( Topic 1 )
A construction loan made during completion of a building or a project.
A. Interim Financing
B. First mortgage
C. Conventional loan
D. Blanket Mortgage


Answer : A

Question 150 ( Topic 1 )
A mortgage which is in first lien position, taking priority over all other liens.
A. First mortgage
B. Callable debt
C. Fixed rate mortgage
D. Graduated payment mortgage


Answer : A