real estate finance - full book (500 pgs)

8 8 mortgage contract

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Unformatted text preview: cation...................................................................................................... 8-8 MORTGAGE CONTRACT ....................................................................................... 8-8 Characteristics of Mortgage Contract: ................................................................. 8-8 Foreclosure.......................................................................................................... 8-9 Deficiency Judgment ......................................................................................... 8-10 TRUST DEED ........................................................................................................ 8-10 Characteristics of Trust Deed ............................................................................ 8-11 Relation of Trust Deed to Note .......................................................................... 8-12 Deed of Reconveyance ..................................................................................... 8-12 Foreclosure by Trustee's Sale ........................................................................... 8-13 Foreclosure by Court (Judicial) .......................................................................... 8-15 LOAN CLAUSES AND TERMS ............................................................................. 8-32 Purchase Money................................................................................................ 8-32 Acceleration Clause........................................................................................... 8-32 Due–on–Sale Clause......................................................................................... 8-33 Assignment of Rents Clause ............................................................................. 8-33 Prepayment Penalty Clause .............................................................................. 8-34 Or More Clause ..................................................................
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