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MA Salesperson Exam Module 9: Introduction to Real Estate Financing Study Guide Solutions $10.49   Add to cart

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MA Salesperson Exam Module 9: Introduction to Real Estate Financing Study Guide Solutions

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MA Salesperson Exam Module 9: Introduction to Real Estate Financing Study Guide Solutions financing - ANSWER-receiving, or providing, money for the purchase of real estate debt to income ratio - ANSWER-A standard tool that calculates whether a borrower will have difficulty meeting his or her l...

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  • November 4, 2024
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KaylinHoffman
Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




MA Salesperson Exam Module 9:

Introduction to Real Estate Financing

Study Guide Solutions


financing - ANSWER✔✔-receiving, or providing, money for the purchase of real estate


debt to income ratio - ANSWER✔✔-A standard tool that calculates whether a borrower will have

difficulty meeting his or her loan repayment obligation.


judicial foreclosure - ANSWER✔✔-foreclosure that is under the supervision of a court and initiated by a

lawsuit


non-judicial foreclosure - ANSWER✔✔-foreclosure that does not require court proceedings or a

judgment of foreclosure - the result of the power of sale clause in a deed of trust


short sale - ANSWER✔✔-homeowner sells the home in short of what they owe the bank. amount is

usually more than the bank would likely be paid at foreclosure


deficiency judgement - ANSWER✔✔-in a foreclosure, the auction fails to cover the debt resulting in the

borrower being personally liable for the deficiency and can be sued by the bank fr the outstanding debt


the note - ANSWER✔✔-evidence of the debt, and IOU. Usually has an acceleration clause and

prepayment penalty clause


acceleration clause - ANSWER✔✔-permits the lender to accelerate the maturity date (due date) of the

loan in default on the terms of the mortgage the event of a

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