Asked by Samantha Stoner on Jul 06, 2024
Verified
A lender can require a borrower to maintain the property in such a way that the lender's investment is protected.
Lender
An individual, bank, or financial institution that provides funds to another with the expectation of being repaid.
Borrower
An individual or entity that takes funds from another under the agreement that the funds will be repaid, often with interest, over time.
- Comprehend the fundamental concepts and entities associated with mortgage and home insurance policies.
Verified Answer
ZK
Zybrea KnightJul 06, 2024
Final Answer :
True
Explanation :
Lenders often include clauses in mortgage agreements that require borrowers to maintain the property in good condition to protect the lender's investment, as the property serves as collateral for the loan.
Learning Objectives
- Comprehend the fundamental concepts and entities associated with mortgage and home insurance policies.
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