Under Alaska law, a 'partial release' from a blanket mortgage is triggered when:
Why A borrower pays a specified amount to release one parcel from coverage of a blanket mortgage Is Correct
Answer B: A borrower pays a specified amount to release one parcel from coverage of a blanket mortgage
Exam Tip: Escrow & Title
Escrow questions test the neutral third-party role and the sequence of closing events. Remember that the escrow agent acts as a dual agent for both buyer and seller and cannot advocate for either side.
Key Escrow & Title Terms in This Question
People Also Study
Related Alaska Questions
- In Alaska, which type of mortgage clause allows the lender to demand full repayment of the loan upon the property's sale?Finance
- Which type of Alaska mortgage loan is specifically designed for rural areas and typically requires no down payment?Finance
- An Alaska buyer is seeking a mortgage under the USDA Rural Development Guaranteed Loan Program. This program is available for:Finance
- An Alaska property has a price of $450,000. The buyer obtains a conventional mortgage with 20% down. What is the monthly mortgage payment if the mortgage constant (factor) for a 30-year loan at 5.5% is $5.678 per $1,000?Finance
- In Alaska, a 'release clause' in a blanket mortgage allows a borrower to:Escrow & Title
- A buyer in Alaska purchases a $420,000 home, making a 15% down payment. How much private mortgage insurance is required annually if the PMI rate is 0.75% of the loan amount?Real Estate Math
- In Alaska, a 'development approach' (also called 'developer's profit' analysis) to land valuation is used primarily when:Property Valuation
- Permafrost considerations in Alaska often affect building codes and land use in that construction on unstable permafrost may require:Land Use & Zoning
Key Terms to Know
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
Pre-ApprovalA lender's conditional commitment to loan a specific amount to a borrower, based on verified income, credit, and assets.
Math Concepts
Study This Topic
Practice More Alaska Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free Alaska Quiz →