Wraparound mortgage - Study guides, Class notes & Summaries

When a deed in lieu of foreclosure is given to a lender, which of the following is true? - Time and cost are less B buys land from W using a deed of trust as security for the carryback. B makes all the payments except the final three and is now in default. W does nothing and decides not to foreclose until later. By doing this W is exercising his right of: - Forbearance A commercial building is sold in a foreclosure for $100,000 less than the balance due the lender. Which of the followi...

Barney Fletcher Real Estate Exam 2024 Updated Questions with Verified 100% Correct Answers Latest Edition Barney Fletcher Real Estate Exam: 2024 Updated Questions with Verified 100% Correct Answers | Latest Edition combining two or more contiguous parcels of real estate into a single parcel under one ownership - Assemblage an increase in value resulting from assemblage - plottage personal property that is permanently attached to real property and goes with the property when its sold - ...

Champions real estate finance Exam Questions with Verified Answers Loan-to-Value Ratio (LTV) ANS-The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage ANS-Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage ANS-Covers more than one piece of propert...

NJ REAL ESTATE ACTUAL EXAM QUESTIONS WITH CORRECT ANSWERS A contract of sale prepared by a licensee MUST include an attorney review clause if it pertains to which of the following types of properties? a. any commercial real estate b. an apartment building c. a six family dwelling unit d. a single family residential vacant lot - Answer-d. a single family residential vacant lot A seller is interested in providing financing to the buyer of her homes, but she wants to retain title until th...

Illinois Real Estate Practice Exam Questions and Answers Objectives of Federal Reserve System - Answer- To counteract inflationary and deflationary trends, to create a favorable economic climate, to maintain sound credit conditions but NOT to control the secondary mortgage market Remainder Interest - Answer- A fee simple holder of a parcel of real estate grants a life estate to her daughter and stipulates that upon the daughters death, the property will pass to her grandson. The second es...

Loan-to-Value Ratio (LTV) - ANSWER-The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - ANSWER-Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - ANSWER-Covers more than one piece of property. Wraparound Mortgage - ANSWER-Method of financin...

Pearson Vue Practice Exam Questions and Answers Latest Updated 2024/2025 | Scored A+. In stating a seller's price and terms to a prospective buyer, the seller's broker is required by the law of agency to state ONLY those terms that are a. included in the listing agreement b. based on the brokers evaluation of prevailing prices and terms c. favorable for the seller, as determined by the broker d. attractive to buyers, as determined by the broker a. included in the listing agreement a lot ...

Champions real estate finance with Correct Solutions Latest Loan-to-Value Ratio (LTV) - Answer -The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - Answer -Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - Answer -Covers more than one piece of...

Loan-to-Value Ratio (LTV) - ANSWER-The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - ANSWER-Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - ANSWER-Covers more than one piece of property. Wraparound Mortgage - ANSWER-Method of financin...

Which of these is a licensing requirement for an Illinois broker's license?* a. Licensed at least two out of the preceding three years as a real estate broker or salesperson b. Successfully complete 75 hours of instruction at an approved real estate school c. Successfully complete 30 hours of situational activities and case studies at an approved real estate school d. Successfully complete a four-year course of study in college b. Successfully complete 75 hours of instruction at an approved...