Which statement is incorrect concerning mortgages?
A) The mortgagee's interest terminates upon performance of the obligation secured by the mortgage.
B) The mortgagee has the right to enforce the mortgage by foreclosure upon default by the mortgagor.
C) The mortgagor must have complete or absolute ownership in the property.
D) Generally, no particular form of language is required to create a mortgage.
Question 2
The right to _________ which is found in the ______ Amendment to the U.S. Constitution, authorizes the government to take land for public use with just compensation.
A) a restrictive covenant, Fifth Amendment.
B) eminent domain, Fifth Amendment.
C) eminent domain, Fourth Amendment.
D) adverse possession, First Amendment.
Example of an Explanation of Benefits statement.
A typical bank statement.
Example of Reconciling a Bank Statement Cont.
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