Mortgage exam module 2 Study guides, Class notes & Summaries

Hud 2024 Updated Exam Q&A A 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 client has a lease on an apartment with his college friend. Their monthly rent on the apartment, which they split evenly, is $1,100. He has been working as a teacher for five ye...

D196 WGU Exam Questions and Answers 100% Pass What is the role and purpose of accounting ? - Answer- Role: To help track income and expenditures, and to provide investors, management, and government with financial information. Purpose: To accumulate, measure, and communicate financial information about businesses and other organizations. · Who uses accounting information and why? - Answer- Potential investors and creditors use accounting information, but basically everyone uses accounti...

D196 WGU EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED What is the role and purpose of accounting ? Role: To help track income and expenditures, and to provide investors, management, and government with financial information. Purpose: To accumulate, measure, and communicate financial information about businesses and other organizations. · Who uses accounting information and why? Potential investors and creditors use accounting information, but basically everyone uses accounting inform...

HUD Counseling Exam - Module 5 Avoiding Foreclosure SOLUTIONS 100% PASS what is a servicer? - ANSWER a company that handles all the administrative aspects of a loan from the closing to mortgage payoff, including handling all payments, escrow, and all documentation for records when was the most recent foreclosure crisis? - ANSWER 2007 what caused the most recent foreclosure process? - ANSWER 1. negative amortization 2. aggressive marketing of HELOC loans 3. subprime lending 4. q...

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...

LOMA 281 Module 2 Study Exam Questions with Correct Answers 100% Solved Term Life insurance Insurance that provides a policy benefit if the insured dies during a specified period of time. Policy term The specified period of time for which a term life insurance policy provides coverage. Level Term life insurance A plan of term life insurance that provides a policy benefit that remains the same over the term of coverage. Decreasing term life insurance A plan of term life insurance th...

D196 WGU EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED What is the role and purpose of accounting ? Role: To help track income and expenditures, and to provide investors, management, and government with financial information. Purpose: To accumulate, measure, and communicate financial information about businesses and other organizations. · Who uses accounting information and why? Potential investors and creditors use accounting information, but basically everyone uses accounting inform...

LOMA 281 Module 2 Study Exam Questions with Correct Answers 100% Solved Term Life insurance Insurance that provides a policy benefit if the insured dies during a specified period of time. Policy term The specified period of time for which a term life insurance policy provides coverage. Level Term life insurance A plan of term life insurance that provides a policy benefit that remains the same over the term of coverage. Decreasing term life insurance A plan of term life insurance th...

LOMA 281 Module 2 Practice Questions and Answers | 100% Pass Which type of whole life insurance policy will best be able to give Arabella lifetime protection without straining her retirement income? Single-premium whole life policy Limited-payment whole life policy Continuous-premium whole life policy - Answer️️ -B Financial needs life insurance can meet - Answer️️ -- paying household expenses - covering outstanding debts - Paying outstanding medical, hospital, and funeral expen...

Louisiana examination test module 1(answered) Which of the following statements is true regarding testing for real estate licensing? An application for licensing must be approved prior to an applicant taking the real estate licensing examination. An applicant for real estate licensing must pass the licensing exam prior to applying for a license. The real estate examination may be taken only after the broker sponsorship affidavit is submitted to the LREC. A real estate license will n...