In which of the following circumstances will an original mortgagor,who has allowed its mortgage to be assumed by a new buyer,be held liable under the assumed mortgage?
A) if there is a deficiency in assigned insurance proceeds
B) if the original mortgagor agrees to pay a penalty for lost interest
C) if the new buyer defaults under the terms of the mortgage
D) if the lending bank assigned the mortgage to another financial entity
Correct Answer:
Verified
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