- 20 Marks
PBL – OCT 2022 – L1 – Q1 – Recovery Options for Defaulted Mortgage Loan
Explain options for a bank to recover a defaulted loan secured by a mortgage and recommend one with reasons.
Question
Kwame Burger borrowed GH₵ 1 million from PPT Bank Ltd and mortgaged his house to secure the loan. He has since defaulted in the repayment of the loan. Explain the options available to the PPT Bank to recover the indebtedness of Kwame Burger. Which one you would recommend and why?
(20 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Banking Security, Defaulted Loans, Ghanaian Banking Regulations, Loan Recovery, Mortgage
- Level: Level 1
- Topic: Property and its Uses as Security
- Series: OCT 2022
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