Finance
Under Maine law, a due-on-sale clause in a mortgage means:
AThe buyer must pay all closing costs
BThe full loan balance becomes due if the property is sold without lender approval✓ Correct
CMonthly payments are due on the first of the month
DThe loan is fully amortized on the sale date
Explanation
A due-on-sale (alienation) clause requires the full mortgage balance to be paid when the property is sold. It prevents buyers from assuming the seller's mortgage without lender approval.
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