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Chapter 66, 67 and 68

Horizontales
A promise given by a buyer to the seller or an existing mortgage holder to perform all the terms of the mortgage taken over by the buyer on the sale
A trust deed provision authorizing the trustee to initiate a non-judicial foreclosure sale of the described property on instructions from the beneficiary
A trust deed provision authorizing mortgage holder to advance funds for payment of conditions impairing the mortgage holder's security interest in the mortgaged property, such as delinquent property taxes, assessments, improvement bonds, mortgage insurance premiums or elimination of waste.
An agreement entered into by a mortgage holder, buyer and seller to shift responsibility for a mortgage obligation to the buyer by an assumption and release the seller of liability
Nonrecourse mortgage financing provided by al ender as purchase assist funding for the purchase of a one to four unit residential property the buyer is going to occupy, or a seller carry back note and trust deed as an extension of credit to buyer of any type of real estate which is secured solely by the property sold. Anti-deficiency mortgage
A property owner or junior lien holder's right to reinstate a mortgage and cure any default prior to five business days before the trustees sale by paying delinquent amounts due on the note and trust deed, plus foreclosure charges.
An agreement in which mortgage holder consents to the owner's present present or future transfer of interest in the mortgaged property as waiver of the mortgage holder's due-on rights. Also known as an assumption agreement
A document issued by a mortgage holder on request noting future payment schedules, interest rates and balances on a mortgage assumed by an equity purchase (EP) investor.
A debt secured by real estate, the creditor's source of recovery on default limited solely to the value of their security interest in the secured property.
Verticales
A sale of mortgaged property calling for the buyer to take title subject to the mortgage, the principal balance being credited toward the purchase price paid. Compare with formal assumption
A mortgage debt in which a lender may pursue collection from a property owner for a loss due to a deficiency in the value of the secured property to fully satisfy the debt if the lender forecloses judicially
A property owner or junior lien holder's right to clear title to property of a mortgage lien prior to the completion of a trustee's sale or following a judicial foreclosure sale by paying all amounts due on the mortgage debt, including foreclosure charges