Question: - Distinguish between a mortgage and a note. - What does default mean? Does it occur only when borrowers fail to make scheduled loan payments?

- Distinguish between a mortgage and a note.

- What does default mean? Does it occur only when borrowers fail to make scheduled loan payments?

- What does it mean when a lender accelerates on a note? What is meant by forbearance?

- What does "nonrecourse" financing mean?

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