Borrower Patti exercised her statutory right of reinstatement after her lender i

Question

Borrower Patti exercised her statutory right of reinstatement after her lender initiated a foreclosure suit. What must Patti's lender do now?

The lender must pay all fees and renegotiate the mortgage.

The lender must dismiss the lien and continue the suit.

The lender must demand that the mortgage is paid in full within the next 60 days.

The lender must dismiss the suit and honor the mortgage

A violation of the License law or rules and regulations is considered a:

misdemeanor.

felony.

larceny.

tort.

Adam did have a will prepared shortly before he died. The property that is transferred according to Adam's will is known as the

Torrens.

discourse.

devise.

boot.

Explanation / Answer

Amswers:

1) The lender must dismiss the suit & continue the mortgage is the correct option.

2) Violation of the license law is a misdemeanor punishable by up to a year in jail and a fine of up to $1,000. hence misdemeanor is the right option.

3) Transfer of property through a will is called devise. hence devise is the right option.

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