What term best describes the borrower who is personally liable for a debt obligation related to the purchase of a home?.

Question

01-02-2022
Business

Answered

Welcome to Westonci.ca, your go-to destination for finding answers to all your questions. Join our expert community today! Get quick and reliable solutions to your questions from knowledgeable professionals on our comprehensive Q&A platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

What term best describes the borrower who is personally liable for a debt obligation related to the purchase of a home?.

Sagot :

Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.

Based on the information in the chart, which of the following countries is LEAST LIKELY to experience religious conflict?| Country | Population | Religious Dist

What is the relationship between the direction of vector [tex]\( \mathbf{b} \)[/tex] and vector [tex]\( 2\mathbf{b} \)[/tex] (where 2 is a scalar)?Given [tex]\(

What is the model that represents the three core principles of information security: Confidentiality, Integrity, and Availability?a. CIA Triad b. AAA Triad c. D

Type the correct answer in the box.The pressure inside a tire is measured as [tex]\( 28.0 \, \text{pounds/inch}^2 \)[/tex]. What is its pressure in [tex]\(\text

How manny solution exit for the given equation

Many immigrants from Country X arrived in their destination country as indentured servants. Almost all of these indentured servants were poor, illiterate, and u

In determining the number of facility locations, the lowest total cost is typically:a. Not the lowest cost of either transportation or inventory.b. The lowest c

Which of the following is a major role of the Public Health Agency of Canada (PHAC)?A. Promoting prenatal screeningB. Ensuring Medicare coverage for all residen

A farmer is tracking the amount of wheat his land yields each year. He finds that the function [tex]\( f(x) = -x^2 + 20x + 75 \)[/tex] models the crop yield in

The poem "In Response to Executive Order 9066" and the short story "Mericans" are both narrated by:A. a teenage boy.B. an elderly woman.C. a male child.D. a fem

topeadeniran2 topeadeniran2 · Answer 1 · 2022-02-10T18:27:03-05:00

It can be deduced that a situation where the borrower is personally liable for a debt obligation when buying a home is known as a recourse loan.

What is a recourse loan?

It should be noted that a recourse loan simply means a situation when the borrower is personally liable for payment of all amounts that are due under the terms of the note.

In this situation, when a property that is encumbered by a mortgage is sold for an amount that is more than the value of the mortgage, then the mortgagor will not be obligated to pay the mortgagee the balance that's remaining.

Learn more about loan on:

https://brainly.com/question/1348326

Sagot :

What is a recourse loan?

Other Questions