Hud house counseling Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Hud house counseling? On this page you'll find 48 study documents about Hud house counseling.
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CR26 - Reg Z Reverse Mortgages Questions and answers 2023 (verified)
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CR26 - Reg Z Reverse Mortgages Questions and answers 2023 (verified)B 
 
FB2B0E2D96FC4319B64C1E5F4E711CE5 
Not answered. The correct answer is B. A, C, and D are incorrect because they are all advantages of a reverse mortgage. 
1. While a reverse mortgage sounds like a great idea, they are not suitable for every borrower. There are several disadvantages to reverse mortgages. Which option is a disadvantage? 
A. Gives the borrower a stream of income 
B. Higher up front costs and higher interest 
C...
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Champions Real Estate Exam: Law of Agency
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Champions Real Estate Exam: Law of Agency 
 
 
 
 
 
This person hires an agent - ANS The Principal 
 
The agent works on behalf of this person - ANS the client (principal) 
 
This type of agency allows for the greatest range of authority - ANS Universal 
 
This is provided to the agent when there is written documentation that the agency relationship exists. - ANS Express authority 
 
This is the most limited of all the agency relationships - ANS ...
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HUD Exam Study Questions - Tenancy | 100% Correct Answers
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HUD Exam Study Questions - Tenancy | 
100% Correct Answers 
Jake has a session with a new client, Ruth, later that day. She has received notice that her 
apartment complex, which offers her project-based housing assistance, will be sold to a new 
management company in six months. The new company will renovate the building and will no 
longer participate in the project-based assistance program. To help Ruth find another affordable 
rental option, Jake should take all of the following steps, excep...
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ECOA 7/20 Exam 2023/2024 with Complete Solutions
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Which of the following is not true concerning ECOA? 
 
It requires lenders to notify loan applicants of their application status within 30 days 
 
Its provisions are implemented by Regulation B 
 
It requires lenders to give borrowers a copy of their appraisal and a notice stating they are entitled to a copy of the appraisal 
 
It requires the disclosure of the APR on all advertisements which contain an interest rate - ANSWER-The answer is it requires the disclosure of the APR on all advertiseme...
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Florida real estate business (2022/2023) Already Graded A
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Florida real estate business (2022/2023) Already Graded A Florida real estate Residential property in Florida is a family home that is a single family dwelling, a duplex, a triplex (3units) or a quad (4 units) or vacant land that has been zoned for 4 units or less. Farm/Agriculture residential is a family home on less than 10 acres land. Commercial property is income producing property such as a retail center or an apartment complex of more than four units. The real estate professional must be a...
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HUD Exam Prep, latest updated
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HUD Exam Prep, latest updated 
Conventional Loan 
Front end 28% 
Back end 36% can go up to 45% to 50%(debt to income), backed by private lenders. AKA prime loans. Good credit, 20% down payment. May have interest only terms 
 
 
 
FHA 
Front end 31% 
Back end 43% 
Limited funds, bad credit, bankruptcy, high debt to income ratio. 
 
 
 
EEM (Energy) FHA 
Front end 33% 
Back end 45% 
 
 
 
VA 
41% 
 
 
 
USDA 
Front End 29% 
Back End 41%, low-to-moderate income, must live rural area, no down paymen...
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EXAM 9(HECM)questions and answers 2023
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EXAM 9(HECM)questions and answers 2023All of the following are true regarding the counselor who meets with a prospective borrower for a reverse mortgage, except: 
 
A. The counselor explains the cost of the loan and the financial implications of obtaining it. 
B. The counselor is paid only if the borrower goes through with the reverse mortgage. 
C. At the end of the session, the counselor will provide a required certification of counseling. 
D. The counselor will provide guidance and advice on s...
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HUD Housing Counseling Exam 2023/2024
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HUD Housing Counseling Exam 2023/2024 
 
Back-end ratio 
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 gross monthly income equals 52%. The client's combined current housing payment and car payment divided by gross monthly inco...
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Champions Real Estate Exam: Law of Agency Exam review guide_2022/2023.
- Summary • 36 pages • 2023
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Champions Real Estate Exam: Law of Agency Exam review guide_2022/2023. 
 
This person hires an agent 
 
The agent works on behalf of this person - 
 
This type of agency allows for the greatest range of authority - 
 
This is provided to the agent when there is written documentation that the agency relationship exists. - 
 
This is the most limited of all the agency relationships - 
This type of agency is created when a 3rd party believes that an agent has authority that has NOT been granted...
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CHAMPIONS SCHOOL OF REAL ESTATE SALESPERSON NATIONAL PREP EXAM 1 WITH ANSWERS
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CHAMPIONS SCHOOL OF REAL ESTATE SALESPERSON NATIONAL PREP EXAM 1 WITH ANSWERSCHAMPIONS SCHOOL OF REAL ESTATE SALESPERSON NATIONAL PREP EXAM 1 WITH ANSWERS 
 
i.	John owns the dominant estate with an easement appurtenant. John sells the property. What happens to the easement? 
a.	A commercial tenant's lease will expire at the end of the month. It is terminated by the sale. 
b.	It belongs to the buyer. 
c.	(Its ownership must be negotiated outside the sale. 
d.	John retains ownership of the easem...
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