Mortgagee Quiz
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Questions and Answers

Who is a mortgagee?

  • The person who sells a property
  • The person who inspects a property
  • The person who purchases a property
  • The person who loans funds to purchase a property (correct)

    • What happens if a mortgagor defaults on their loan?

  • The mortgagor is forgiven for the debt
  • The mortgagee cancels the loan
  • The property becomes the mortgagee's (correct)
  • The mortgagee loses their investment

    • Who can be a mortgagee?

  • Anyone (correct)
  • Only financial institutions
  • Only parents
  • Only friends

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