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Mortgage
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Which document represents the borrowers promise to repay the loan A) Compliance Agreement B) Note C) Mortgage D) Deed of Trust?
B) Note represents the borrower's promise to repay the loan. It is a legal document that outlines the terms of the loan, including the amount borrowed, interest rate, and repayment schedule. The other options, such as the mortgage and deed of trust, serve to secure the loan against the property but do not represent the borrower's promise to repay.
What percentage of borrowers are unable to repay their payday loans?
15%
What is targeted to borrowers with low credit scores high debt to income ratios or signs of a reduced ability to repay the money they borrow?
A _____ is targeted to borrowers with low credit scores, high debt-to-income ratios or signs of a reduced ability to repay the money they borrow
What is a lien on the property that secures the promise to repay a loan?
Mortgage
What is a lien on a property that secures the promise to repay the loan?
Mortgage
Which document represents the borrowers promise to repay the loan A) Compliance Agreement B) Note C) Mortgage D) Deed of Trust?
B) Note represents the borrower's promise to repay the loan. It is a legal document that outlines the terms of the loan, including the amount borrowed, interest rate, and repayment schedule. The other options, such as the mortgage and deed of trust, serve to secure the loan against the property but do not represent the borrower's promise to repay.
What is a written promise to repay?
A written promise to repay is called a promissory note. It is a legal document where one party (the borrower) agrees to repay a specific amount of money to another party (the lender) according to agreed-upon terms and conditions.
What percentage of borrowers are unable to repay their payday loans?
15%
What is an unsecured promissory note?
A promissory note is a document where you agree or promise to repay a certain amount of money to someone. If it is unsecured, it means that nothing was put up as collateral to back up your promise [such as a house, a car, stocks, etc. ].
What does a credit for a bank do?
It is an agreement between banks and borrowers where banks make loans to borrowers. By extending credit, a bank essentially trusts borrowers to repay the principal balance as well as interest at a later date.
Is targeted to borrowers with low credit scores high debt to income ratios or signs of a reduced ability to repay money they borrow?
A _____ is targeted to borrowers with low credit scores, high debt-to-income ratios or signs of a reduced ability to repay the money they borrow
What is targeted to borrowers with low credit scores high debt to income ratios or signs of a reduced ability to repay the money they borrow?
A _____ is targeted to borrowers with low credit scores, high debt-to-income ratios or signs of a reduced ability to repay the money they borrow
After the crash some banks failed because?
borrowers could not repay their loans... complements of THE DENNIS JONES
Which of these is a lien on the property that secures the promise to repay a loan?
mortgage
What is a lien on a property that secures the promise to repay the loan?
Mortgage
What is a lien on the property that secures the promise to repay a loan?
Mortgage
What is a lien on the property that secures a promise to repay the loan?
Mortgage
