A clause in a mortgage specifies that "if the mortgaged property is sold,then the remaining balance becomes immediately due and payable." This clause is called:
A)action and sale clause.
B)strict foreclosure clause.
C)due on sale clause.
D)subrogation clause.

Question

Quizplus · Accepted Answer

If a mortgage provides that in the event of the property being sold,the remaining balance becomes immediately due and payable,it is a "due on sale" clause.

A Clause in a Mortgage Specifies That "If the Mortgaged