Promissory note - Study guides, Class notes & Summaries

Real Estate U Texas Real Estate Finance(6) Exam Questions And Answers All verified By An Expert An acceleration clause is included in which of the following...? The mortgage Both the promissory note and mortgage The promissory note The lien - ANS The promissory note? Collateral - - ANS Marketable real or personal property which a borrower pledges as security for a loan. In mortgage transactions, specific land is the collateral. Promissory Note - - ANS Following a loan commitme...

Superior NC Real Estate Important Final Exam Questions and Answers RESPA -Answer--Real Estate Settlement Procedures Act: applies ONLY to 1-4 family residential transactions, transactions involving a "federally related" mortgage (conventional, FHA, VA) Which party's signature is required on a deed of trust? A. the trustee B. the beneficiary C. the trustor(s) D. the grantee(s) -Answer-C. the trustor(s) The trustor is the borrower in a lending situation using a trust deed. The borrower...

Gold Coast Final Exam: Questions & Answers What is the form you sign that says you will pay the loan back ? Correct Ans - promissory note What is the post licensing grace period after first expiration ? Correct Ans - none Deposits is a form of... Correct Ans - valuable consideration Physical land and improvements Correct Ans - real property Is it a violation if a sales associate work for two brokers Monday-Friday, and Satur...

xES Business and Finance (276) Prep Manual & Extras Latest 2023 Already Passed Income Statement Produced once a month to ensure expense review and control Income Statement' Allows a company to determine how much money is coming in and how it's being spent Promissory Note Indicates a loan and debt financing to raise capital Convertible Securities Used to raise capital by way of equity financing Convertible Securities' Stock or bond, that can be converted to another type of security Conver...

mortgage Broker - Answer- Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - Answer- Provide their own funds for the purpose of providing mortgage financing Correspondent Lender - Answer- Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk Origination - Answer- The process of creating a new mortgage loan U...

An acceleration clause is included in which of the following...? The mortgage Both the promissory note and mortgage The promissory note The lien - Answer The promissory note? Collateral - - Answer Marketable real or personal property which a borrower pledges as security for a loan. In mortgage transactions, specific land is the collateral. Promissory Note - - Answer Following a loan commitment from the lender, the borrower signs a note, promising to repay the loan under stipulate...

1. An acceleration clause is included in which of the following...? The mortgage Both the promissory note and mortgage The promissory note The lien: The promissory note? 2. Collateral -: Marketable real or personal property which a borrower pledges as security for a loan. In mortgage transactions, specific land is the collateral. 3. Promissory Note -: Following a loan commitment from the lender, the borrower signs a note, promising to repay the loan under stipulated terms. The promissory not...

Promissory Note correct answers A written agreement to repay a debt Who is the maker of the note in a promissory note? correct answers The debtor Who is the payee of the note in a promissory note? correct answers The creditor Who is a holder in due course? correct answers One who gets payments Who is the mortgagor? correct answers Borrower Who is the mortgagee? correct answers Lender In Alabama, who has the title until the debt is paid? correct answers The mortgagee Deed of ...

Gold Coast Final Exam Questions and Answers 100% Solved What is the form you sign that says you will pay the loan back ? promissory note What is the post licensing grace period after first expiration ? none Deposits is a form of... valuable consideration Physical land and improvements real property Is it a violation if a sales associate work for two brokers Monday-Friday, and Saturday and Sunday and getting paid commission from both Yes What is the maximum fine per offense ? $5,000 per fine...

Woodcrest, Inc. borrowed $50,000 from a local bank and signed a promissory note. What entry should Woodcrest record? a) debit Cash, $50,000; credit Notes Receivable, $50,000 b) debit Notes Receivable, $50,000; credit Cash, $50,000 c) debit Cash, $50,000; credit Notes Payable, $50,000 d) debit Notes Payable, $50,000; credit Cash, $50,000 Correct Answer: debit Cash, $50,000; credit Notes Payable, $50,000 We record interest expense in the period in which we pay it, rather than in the perio...