HUD

1. Which document is most important when working with a client to developan initial budget as part of a Client Action Plan?: Pay Stub 2. A client would like to purchase a home within one year. The client is moti- vated to increase household income as a way to save for a down payment andqualify for a loan.Which is the best solution for the client to reach this goal?: Find a second job 3. A credit report may contain which information?: The number of accounts incollection status 4. Six months...

HUD Housing Counselor Certification Practice Questions and Answers Latest (2023 / 2024) (Verified Answers)

HUD EXAM Questions and Answers Latest (2023 / 2024) (Verified Answers)

HUD Exam Housing Affordability Questions and Answers Latest (2023 / 2024) (Verified Answers)

HUD Housing Counseling Exam Questions and Answers Latest (2023 / 2024) (Verified Answers)

HUD Exam Financial Management Questions and Answers Latest (2023 / 2024) (Verified Answers)

Types of Credit Used Correct Answer: Student loan or credit cards only FAKO scores Correct Answer: purchase score which are educational score Fair Credit Reporting Act FCRA Correct Answer: what is in file/dispute/remove 30 days/remove bad 7 yrs/bk 10 yrs/access limited/damages from violators/state rights Fair and Accurate Credit Transactions Act FACTA Correct Answer: free cbrs/fraud alert/truncate cc #s Fair Credit Billing Act (FCBA) Correct Answer: dispute bill error/mail 60 da...

Rental Obstacle + Solutions: Low Income Correct 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 Correct 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 potential homebuyer with a minimal savings for a down payment and a low credit score is most likely to qualify for which mortgage? - United States Department of Agriculture (USDA) - Federal Housing Administration (FHA) - Fannie Mae - Freddie Mac - Federal Housing Administration (FHA) Which is the most significant benefit of using a real estate agent? - Marketing the home online - Obtaining a home inspection - Paying the sales commission - Negotiating the sale - Negotiating the sale ...