As part of a mortgage agreement, a financial institution places a lien on the property until the loan is paid in full.

Related MCQs

• When a financial institution sells a mortgage with recourse, the financial institution retains a credit risk liability in the event the buyer returns the mortgage.
• As a fixed-rate mortgage nears maturity, the portion of the monthly mortgage payment that is applied to principal _________ while the amount that is applied to interest ___________.
• The bank can consider ------------------ lien as their protection against loss on loan or overdraft which was given to its customers.
• What is the stamp duty to be paid in respect of any document executed by any banker financial institution for issuing a debenture or bond?
• . _________ paid at closing can reduce the interest rate used to determine the monthly payments on a mortgage.
• A mortgage can neither sue for foreclosure nor for sale of the property in...............
• In case of an Indian banking company, the sum of its paid-up capital and reserves if it has places of business in more than one State shall not be less than
• The banker has a lien on........
• A banker's lien is...........
• An equitable mortgage can be created in respect of _______?