Multiple Choice
In a deed of trust transaction, when a trustee sells the property and the proceeds generate a deficiency, the _____.
A) borrower is relieved of all obligations to the lender
B) lender may sue the borrower on the debt and recover a judgment
C) lender may sue the trustee
D) trustee may sue the borrower
Correct Answer:
Verified
Correct Answer:
Verified
Q40: Which of the following is true of
Q41: Which of the following statements best defines
Q42: The rights and liabilities of the surety
Q43: Each state has a statute that permits
Q44: In a deed of trust transaction, when
Q45: The provider of materials or labor is
Q47: If mortgagors sell the interest in their
Q48: Which of the following statements is true
Q49: If the surety has to perform the
Q50: The basic rules of strict liability apply