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Title: If a debtor defaults on a mortgage loan on a parcel of real property, the creditor, often a bank or ... Post by: kkqueen14 on Feb 27, 2018 If a debtor defaults on a mortgage loan on a parcel of real property, the creditor, often a bank or mortgage company, must commence a legal proceeding against the debtor called a
A) Judicial sale B) Repossession C) Foreclosure D) Deed in lieu Q. 2 According to 11 U.S.C. 501, to be paid by the trustee in either a liquidation or reorganization bankruptcy, a creditor must file an Official Form B10 ________ form with the bankruptcy court where the case is pending. A) Proof of purchase B) Proof of Claim C) Proof of redemption D) Proof of offer Q. 3 If the Automatic Stay is in effect, the creditor is required to file ________ with the court to lift it. A) A motion B) An executory contract C) A reaffirmation agreement D) Grievance Q. 4 The trustee may deem it proper to ________ a contract if he or she determines it is in the best interests of the debtor to do so. A) Ignore B) Acknowledge C) Reject D) Rescind Q. 5 The foreclosure process can take anywhere from A) Six to eight months B) Two to seven months C) Three to six months D) Nine to twelve months Q. 6 Under some very specific circumstances, a creditor may be able to convince the court that it should be allowed to continue with its ________ against the debtor. A) Debt collection efforts B) Negotiations C) Contract D) None of these Title: If a debtor defaults on a mortgage loan on a parcel of real property, the creditor, often a bank or ... Post by: hannahzzq on Feb 27, 2018 Content hidden
Title: If a debtor defaults on a mortgage loan on a parcel of real property, the creditor, often a bank or ... Post by: kkqueen14 on Feb 27, 2018 This is very helpful, my teacher this year is not good
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