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What Is the Loan Clause Stating That If You Default

Question 47

Multiple Choice

What is the loan clause stating that if you default on a secured loan,the lender can repossess whatever is secured,as well as bill you for the difference if that repossession does not cover what you owe?


A) Insurance clause
B) Default clause
C) Recourse clause
D) Deficiency payments clause
E) None of the above

Correct Answer:

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