Hud housing exam stuvia Study guides, Class notes & Summaries

What act are limited english proficiency persons protected under? - Answer title VI of the civil rights act of 1964 Which act was passed in 1866? - Answer the civil rights act of 1866 What did the civil rights act of 1866 bill declare? - Answer "all persons born in the United States (except American Indians) were herby declared to be citizens of the United States" What supreme court case took place in 1986? - Answer Plessy v. Ferguson What happened in the Plessy v. Ferguson supreme...

Which factor is best for housing counselors to use when determining how much a client can afford to spend on purchasing a home? A. Debt to-income ratios B. Annual gross income C. Savings D. Options A, B, C E. None of the above - ANSWER D. Options A, B, and C A person or company that makes loans for real estate purchases. "Loan officer" is a related term that refers to a representative of a lending or mortgage company who is responsible for soliciting homebuyers and for qualifying and ...

Adjustable Rate Mortgage (ARM) - ANSWER-Adjustable rate mortgages have an initial rate that applies for a defined period of time (typically from one month to 10 years), then adjusts at pre-determined intervals for the life of the loan. Interest rates can increase or decrease when adjusted. Adjusted Gross Income - ANSWER-Gross income minus adjustments, or reductions, that one is eligible for, such as deductions for unreimbursed business expenses, tuition and fees, and contributions to certain ...

Civil rights act of 1866 - ANSWER-All people born in US, is a citizen act that prohibits racial discrimination in the sale and rental of housing plessy v. ferguson - ANSWER-involved segregated railway cars, upheld racial segregation in public facilities—the "separate but equal" doctrine Brown V. Board of education - ANSWER-which held that separate schools for black and white students were inherently unconstitutional Fair housing act prohibits - ANSWER-specific discriminatory prac...

Which describes the legally enforceable terms that govern the use of real estate? A. Residential security restrictions B. Deed restrictions C. Redlined Maps Government-sponsored deeds - ANSWER B. Deed Restrictions -Deed restrictions are legally enforceable terms that govern the use of real estate. Deed restrictions that discriminate based on any of the seven prohibited bases for discrimination are illegal and unenforceable. Which is the practice of refusing to make residential loans or i...

All of the following are true statements about upfront costs associated with renting and buying, except; A. Renters generally pay a security deposit upon signing a lease. B. The average cost due upon signing a lease for a rental is typically between 20% of the monthly rent.. C. Closing costs are typically comprised of lender fees, discount points, title insurance, home inspection fees, escrow deposit, property taxes, private mortgage insurance, and attorney's fees. D. A client who desires...

Which describes the legally enforceable terms that govern the use of real estate? A. Residential security restrictions B. Deed restrictions C. Redlined Maps Government-sponsored deeds - ANSWER-B. Deed Restrictions -Deed restrictions are legally enforceable terms that govern the use of real estate. Deed restrictions that discriminate based on any of the seven prohibited bases for discrimination are illegal and unenforceable. Which is the practice of refusing to make residential loans or i...

All of the following are true statements about upfront costs associated with renting and buying, except; A. Renters generally pay a security deposit upon signing a lease. B. The average cost due upon signing a lease for a rental is typically between 20% of the monthly rent.. C. Closing costs are typically comprised of lender fees, discount points, title insurance, home inspection fees, escrow deposit, property taxes, private mortgage insurance, and attorney's fees. D. A client who desires...