Real Estate Exam [National] 85, Mortgage Clauses Explained

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam. In this episode you will learn: • How the acceleration clause converts a long-term debt into an immediate demand for payment upon default. • Why the alienation or due-on-sale clause is the primary barrier to mortgage assumptions by new buyers. • That the defeasance clause is the only legally required clause, ensuring the lender releases their lien after the final payment. • The financial implications of the prepayment clause and how penalties are calculated on the exam. • A simple mnemonic to distinguish between triggers for default, sale, payoff, and early payment. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep