13. The clause in a deed of trust or mortgage that permits the lender to declare the entire unpaid balance immediately due and payable upon default is what clause? judgment B C. forfeiture D. acceleration lator 14. The interest in a property held by the owner in excess A. hypothecation B any liens against it is called subordination leverage D equity 15. The right a mortgagor has to regain the property by paying the debt after a foreclosure sale is called: A. acceleration B. redemption C. reversion D. recapture 16. The clause in a mortgage instrument that would prevent the assumption of the mortgage by a new purchaser is a (n): due on sale clause power of sale clause defeasance clause D. certificate of sale clause 17. The defeasance clause in a mortgage requires the mortgagee to execute a (n): A. assignment of mor B. satisfaction of mortgage C. subordination agreement D. partial release agreement to sell the house to the buyer for $200,000. The buyer was unable to qualify for a 18. The seller for this amount so the seller and buyer enter into a contract for deed. The interest the mortgage lo buyer has in the property under contract for deed is: A. legal B. equitable title C. join title D. mortgage in possession 11 title 19. If the buyer of a $185,000 home obtains a $150,000 mortgage with 4 points, how much will the lender charge at closing? A. $6,000 B. $3,400 C. $2,000