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Foreclosure: Quiz

  
  
  
  

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Question 1: ________: Foreclosure is a little used remedy which vests the property in the mortgagee with the mortgagor having no right to any surplus from the sale.
CanadaUnited KingdomWalesEngland

Question 2: In the proceeding simply known as foreclosure (or, perhaps, distinguished as "judicial foreclosure"), the property is subject to ________ by the county sheriff or some other officer of the court.
EconomicsAuction theoryOnline auction business modelAuction

Question 3: ________: Foreclosure takes place as a form of debt enforcement proceedings under Swiss insolvency law.
LithuaniaSwitzerlandDenmarkArmenia

Question 4: Since in both countries, the ________ system of land registration is used, being registered as proprietor or as a mortgagee creates an indefeasible interest (unless the acquisition of the registration was by land transfer fraud).
Torrens titleDeedAllodial titleDeeds registration

Question 5: One of the biggest opponents of foreclosures is the ________ which sees foreclosures as unconstitutional and a particular burden on vulnerable poor populations.
Western Cape Anti-Eviction CampaignTake Back the LandAbahlali baseMjondoloSikhula Sonke

Question 6: Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a ________ on the property.
LienAllodial titleProperty lawAssignment (law)

Question 7: If the mortgage is a ________ (which is often the case with owner-occupied residential mortgages in the U.S.), lender may not go after borrower's assets to recoup his losses.
Loan to valueCollateral (finance)Nonrecourse debtMortgage loan

Question 8: Other options such as refinancing, a short sale, alternate financing, temporary arrangements with the lender, or even ________ may present homeowners with ways to avoid foreclosure.
DebtInsolvencyBond (finance)Bankruptcy

Question 9: In the ________, there are two types of foreclosure in most common law states.
PhilippinesCanadaUnited StatesAlaska

Question 10: The leading theory attributes the lack of renegotiation to ________ and a large number of claimants with security interest in the mortgage.
Mortgage-backed securityBond (finance)Collateralized debt obligationSecuritization
















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