Hud exam stuvia - Study guides, Class notes & Summaries

Who is responsible for most of the regulatory administration of the Low-Income Housing Tax Credit Programs? Internal Revenue Service (IRS) The initial Compliance Period for LIHTC properties combined with the Extended Use Period must be for a minimum period of affordability at: 30 years The LIHTC regulations required that HUD guidance for properly identifying and calculating income and assets be followed according to: HUD Handbook 4350.3 REV-1 Use of HUD's Enterprise Income Veri...

HUD Housing Counseling Exam with Complete SolutionsHUD Housing Counseling Exam with Complete SolutionsHUD Housing Counseling Exam with Complete Solutions Back-end ratio - ANSWER-The back-end ratio (or debt-to-income ratio) compares total debt to gross monthly income. The client's only debt is a $435 lease payment, so the $950 mortgage payment brings his total monthly debt to $1,385. He earns $50,000 per year, which equals $4,166.67 per month. The client's total current expenses divided by ...

HUD EXAM 2023/2024 GRADED A WITH VERIFIED ANSWERS Telephone Customer Services: correct answerAssistance provided by the financial institution over the phone to help customers with HUD EXAM 2023/2024 GRADED A WITH VERIFIED ANSWERSHUD EXAM 2023/2024 GRADED A WITH VERIFIED ANSWERSHUD EXAM 2023/2024 GRADED A WITH VERIFIED ANSWERSHUD EXAM 2023/2024 GRADED A WITH VERIFIED ANSWERSHUD EXAM 2023/2024 GRADED A WITH VERIFIED ANSWERSHUD EXAM 2023/2024 GRADED A WITH VERIFIED ANSWERSHUD EXAM 2023/2024 GRADED...

HUD Housing Counseling Exam Questions and Answers (Graded A) HUD Housing Counseling Exam Questions and Answers (Graded A) HUD Housing Counseling Exam Questions and Answers (Graded A) Rental Obstacle + Solutions: Low Income - ANSWER--Some Renters reject people whose Rent would be more than 30% of GMI -Solutions -Apply for Housing Assistance -Expand housing search areas -Get a roommate -Move in w/family or friends Strategies for decreasing expenses and debt - ANSWER-Pr...

HUD Exam Questions and Answers 100% CorrectHUD Exam Questions and Answers 100% CorrectHUD Exam Questions and Answers 100% CorrectHUD Exam Questions and Answers 100% CorrectHUD Exam|489 Questions and Answers 100% Corre

HUD Practice Exam Questions and Answers 100% CorrectHUD Practice Exam Questions and Answers 100% CorrectHUD Practice Exam Questions and Answers 100% CorrectHUD Practice Exam Questions and Answers 100% CorrectA client, who is a divorced local school teacher, is interested in purchasing his first home. He wishes to stay in the same neighborhood where he now lives and to purchase a home in the low-$100,000 range. He currently leases a car for $435 a month and would like to buy a new car. The cl...

HUD Housing Exam Questions and Answers 100% CorrectHUD Housing Exam Questions and Answers 100% CorrectHUD Housing Exam Questions and Answers 100% CorrectHUD Housing Exam Questions and Answers 100% CorrectHUD Housing Exam Questions and Answers 100% Correct Which document should the counselor review with the client to identify spending habits and track expenses: - ANSWER-Bank statement Which additional information would the housing counselor need to prepare a household budget for this cli...

HUD EXAM PREP WITH COMPLETE SOLUTIONS HUD EXAM PREP WITH COMPLETE SOLUTIONS HUD EXAM PREP WITH COMPLETE SOLUTIONS Types of Credit Used - ANSWER-Student loan or credit cards only FAKO scores - ANSWER-purchase score which are educational score Fair Credit Reporting Act FCRA - ANSWER-what is in file/dispute/remove 30 days/remove bad 7 yrs/bk 10 yrs/access limited/damages from violators/state rights

Elements IN a Budget - ANSWER--Pay Stubs. -Bank Statement -Utility Bill -Soc. Sec. Award Letter -Credit Card Debt -Car Expenses -Child Support -Hobby Income (Avg.) Elements NOT in a Budget - ANSWER--Stock Dividends -Annual Bonus -Reimbursements -Credit Score -Pretax Payroll Deduc. Which information should be included in a Client Action Plan? - ANSWER-The client's housing goal and the counselor's action steps 5 Sections of a Credit Report - ANSWER--Personal Information -Acco...

Rental Obstacle + Solutions: Low Income - ANSWER -Some Renters reject people whose Rent would be more than 30% of GMI -Solutions -Apply for Housing Assistance -Expand housing search areas -Get a roommate -Move in w/family or friends Strategies for decreasing expenses and debt - ANSWER Prioritize "needs over "wants" -reduce or eliminate "wants" -cancel or downgrade services(e.g. cable, telephone) -limit miscellaneous spending - stick to a shopping list - pay off a loan or credi...