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MA Salesperson Exam Module 9: Introduction to Real Estate Financing Mostly Tested Questions and Correct Answers (100% Pass) $10.69   Add to cart

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MA Salesperson Exam Module 9: Introduction to Real Estate Financing Mostly Tested Questions and Correct Answers (100% Pass)

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financing receiving, or providing, money for the purchase of real estate debt to income ratio A standard tool that calculates whether a borrower will have difficulty meeting his or her loan repayment obligation. judicial foreclosure foreclosure that is under the supervision of a court and...

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  • November 19, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MA Salesperson
  • MA Salesperson
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MA Salesperson Exam Module 9:
Introduction to Real Estate
Financing Mostly Tested Questions
and Correct Answers (100% Pass)
financing


✓ receiving, or providing, money for the purchase of real estate




debt to income ratio


✓ A standard tool that calculates whether a borrower will have difficulty

meeting his or her loan repayment obligation.




judicial foreclosure


✓ foreclosure that is under the supervision of a court and initiated by a

lawsuit




non-judicial foreclosure


✓ 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


Master01 | November, 2024/2025 | Latest update

, 1|Page | © copyright 2024/2025 | Grade A+

✓ 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


✓ 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


✓ evidence of the debt, and IOU. Usually has an acceleration clause and

prepayment penalty clause




acceleration clause


✓ 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




calling in the note


✓ a lender's first step in the foreclosure process




prepayment penalty clause




Master01 | November, 2024/2025 | Latest update

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