Financing and settlement - Study guides, Class notes & Summaries

The rules were that what you borrowed, plus interest, must be paid back the next year or at some other agreed upon time. This is called a _______. correct answers Term Loan A word that literally means to kill off. Each payment is an ___________ partially pays off BOTH principal and interest. correct answers Amortize. Amortized Loan. A borrower's personal promise to repay a debt according to the agreed terms. correct answers Promissory Notes. Secured by a Deed of Trust. In some states, ...

Texas Principles of Real Estate II Final Exam| Questions and Verified Answers| Grade A| 2023/ 2024 Update Q: a lease for one year or less Answer: the only contract that does not have to be in writing to be enforceable Q: Attorney in Fact Answer: a person holding a power of attorney Q: substitution of a contract with another contract ie. counteroffer Answer: Novation Q: when one party fails to perform the duties of the contract-they can be asked by judge ...

Real Estate Financing and Settlement UPDATED ACTUAL Questions and CORRECT Answers On a real estate closing transaction involving an exclusive right-to-sell listing, the commission is a debit to the - CORRECT ANSWER- seller; The commission is a seller's obligation (debit) and is never a credit. Which lender uses its own funds to fund loans that will be sold in the secondary mortgage market? - CORRECT ANSWER- Mortgage banker; Mortgage brokers seldom use their own funds. The VA only...

Real Estate Financing and Settlement Final Exam and Additional Practice Questions and Answers 2024 Solved 100% Correct

Unit 6 Exam Financing and Settlement 2024 Questions and Answers Complete

Real Estate Financing and Settlement Exam Questions with Correct Answers Graded A+ On a real estate closing transaction involving an exclusive right-to-sell listing, the commission is a debit to the seller; The commission is a seller's obligation (debit) and is never a credit. Which lender uses its own funds to fund loans that will be sold in the secondary mortgage market? Mortgage banker; Mortgage brokers seldom use their own funds. The VA only guarantees loans. A buyer would have ...

Unit 6 Exam Financing and Settlement Exam Questions and Answers 100% An amortized loan ____. Which of the following is correct?1. Is the same as a budget loan if it includes taxes and insurance 2. Allows the borrower to "re-borrow" the remaining principal each year at the established interest rate until there is no principal left to borrow 3. Has a fixed monthly payment 4. All of the above are correct. All of the following are correct Comparing a mortgage and deed of trust as financin...

Instructor Solution Manual for Law for Business 15th Edition Barnes Chapter 1-47. PART ONE: Introduction to the Law Chapter 1: Law and Legal Reasoning Chapter 2: Dispute Settlement Chapter 3: Business Ethics and Corporate Social Responsibility Chapter 4: Business and the Constitution Chapter 5: Criminal Law and Procedure Chapter 6: Intentional Torts Chapter 7: Negligence and Strict Liability Chapter 8: Intellectual Property PART TWO: Contracts Chapter 9: The Nature and Origins of Contracts Chapt...

A market for the purchase and sale of existing mortgages designed to provide greater liquidity for selling mortgages is called the ________. secondary market The Federal agency established to restore Fannie Mae and Freddie Mac to a sound and solvent financial condition is _____. Federal Housing Finance Agency (FHFA) The ____ guarantee allows mortgage lenders to obtain a better price for their loan in the capital markets. Gov't. National Mortgage Association - Ginnie Mae ...

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...