Reverse mortgage defined - Study guides, Class notes & Summaries

NMLS License Exam Questions and Answers (Graded A) NMLS License Exam Questions and Answers (Graded A) NMLS License Exam Questions and Answers (Graded A) As defined in Regulation X, which implements RESPA, ____ means a person (other than an employee of a lender) that renders origination services and serves as an intermediary between a borrower and a lender in a transaction involving a federally related mortgage loan. - ANSWER-mortgage broker If applicable, an Affiliated Business Arran...

NMLS License Exam Questions and Answers Latest 2024 As defined in Regulation X, which implements RESPA, ____ means a person (other than an employee of a lender) that renders origination services and serves as an intermediary between a borrower and a lender in a transaction involving a federally related mortgage loan. mortgage broker If applicable, an Affiliated Business Arrangement Disclosure form must be provided to a consumer at the time of the referral or before Brainpower ...

MA Real Estate Exam Study Guide 2024 Questions and Answers Appraisal - Answer- An estimation of a property's value, usually prepared by a professional who is licensed in this field. Brokerage - Answer- The business of bringing people together in a real estate transaction. Commerical - Answer- The types of properties that include office spaces, shopping centers, stores, theaters, hotels, parking facilities, etc. Development - Answer- The term for the construction of improvements upon the...

HECM Exam questions and correct answers A reverse mortgage is... - ANSWERS a loan against the value of a home that provides cash advances to a borrower, requiring no repayment until a future time. A reverse mortgage is different from a home equity loan because - ANSWERS You do not have to make monthly repayments on a reverse mortgage A reverse mortgage must be repaid - ANSWERS When the last eligible borrower dies, sells, or permanently moves away The purpose of a reverse mortgage is mo...

ASREB Test Question Review With Correct Answers Rated 100% Correct!! Within the Arizona Groundwater Code all of the following rights were created EXCEPT? Subdivision grandfather right What is required to give someone the right to sign your name? Power of Attorney The buyer has an investment that has a feature of "a pass through certificate" this investment is most likely a: Ginnie Mae Security When an occupant holds a long term proprietary lease this is referred to as: Co-operative ...

As defined in regulation X, which implements respa, _____ means a person (other than an employee of a lender) That renders origination services and serves as an intermediary Between and a lender in a transaction involving a federally related mortgage loan. Answer Mortgage broker The _____ Became effective June 20, 1975, what's the purpose of helping illuminate unnecessary increases in the cost of certain settlement services due to kick backs and referral fees. Answer Real estate settlement p...

Net worth - answer-Assets (own) - Liabilities (owe) = Net Worth Personal finance plan - answer-Reasons to develop a __________: - Achieve your financial goals - Achieve financial independence - Invest intelligently - Minimize your payments to Uncle Sam - Cover your assets The Personal Financial Planning Process - answer-Step 1: Awareness and Setting Financial Goals Step 2: Creating and Activating Plans Step 3: Evaluating and Revising Plans: Moving forward Step 1: Awareness ...

ACEABLE AGENT PRINCIPLES OF REAL ESTATE 2 PRACTICE TEST QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED. A 65 years old retiree has almost $80,000 in equity in their home. She does not have enough cash to travel as she have would have liked to do in retirement. The retiree should consider which of these financing alternatives to access her equity without selling her home? - -A reverse mortgage allows a homeowner to pledge equity to a lender in exchange for monthly payments. A property is un...

Broker One who buys and sells for another for a fee. Broker-Salesperson A qualified broker who practices real estate in the position of salesperson in another broker's office bureau of subsidized land sales control regulations covering out of state properties sold in NJ continuing education 12 hours required every two years, two of which must be on ethics NJ Real Estate Commission Department of Banking and Insurance. 8 members. 5 brokers for at least 10 years, two from general public a...

NJ Real Estate Salesperson Exam Already Graded A What is the collateral in a home loan? The property itself When someone contributes to the construction or rehabilitation of a property with labor or services rather than cash, that contribution is called? sweat equity If you were buying a house that included furnishings, you would receive a written document transferring title to the personal property. This document is called a/an bill of sale What does a power of attorney grant someone? comple...