Finance
A 'due-on-sale' clause in a NJ mortgage requires:
AThe seller to reduce the price if the property doesn't sell
BThe full mortgage balance to become due when the property is sold or transferred✓ Correct
CThe buyer to qualify for a new mortgage within 30 days
DThe lender to approve all repairs before closing
Explanation
A due-on-sale (acceleration) clause in a mortgage requires the entire outstanding balance to be paid when the property is sold or transferred, preventing assumption of the loan without lender approval.
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