Financing rea - Study guides, Class notes & Summaries

Mortgage - ANSWER pledge of real estate as security for repayment of a debt. Promissory Note - ANSWER Borrower's unconditional promise to repay also known as a real estate lien note includes the amount borrowed, payment amount, due date, and rate of interest. The note is not generally recorded. Selling Financing - ANSWER least common form of mortgage financing owner finances it, v risky Foreclosure - ANSWER Legal procedure whereby the secured property may be sold to satisf...

Chapter 8 Financing Real Estate - Law of Contracts - Champions Questions and Complete Solutions Graded A+

PA RE Practice Unit 20, Financing Real Estate Exam with Questions and Answers Credit Score ANSWER Computer-generated analysis of factors characteristic or indicative of repayment; te most common one was developed by FICO Fair, Issac & Co.; An objective way of reporting an analysis of factors indicative of credit risk which influences the interest rate a lender will charge FACTA Fair & Accurate Credit Transactions Act ANSWER Federal law which requires ea of the major credit bureaus to provi...

REAL ESTATE FINANCING EXAM PRACTICE EXAM 2024 | ALL QUESTIONS AND CORRECT ANSWERS | ALREADY GRADED A+ | LATEST VERSION

Financing Residential Real Estate Q/A

There are four main areas within this subject: Sources of financing Common clauses in mortgage instruments Types of loans Terms and conditions Real Estate Finance discusses - ANSWER-Real Estate Finance discusses promissory notes, trust deeds and mortgages, transfer of property by the borrower, special clauses in financing instruments, foreclosure, junior trust deeds, balloon payment loans, unsecured loans, alternative financing, closing those extra sales, new types of mortgage as wel...

RECA Fundamentals of Real Estate Exam [100% Correct] 2025 Release **Exclusions of REIX** **Ans** REIX excludes certain activities, such as those not involving real estate trades, property title registration, or conveyance. It also does not cover claims related to bodily injury, sickness, emotional or mental disorders, death, slander, property damage or loss, and any dishonest, fraudulent, criminal, or malicious acts. **Personal Information** **Ans** Personal information is an...

An up-front premium is charged on FHA loans used to purchase all of these EXCEPT CORRECT ANSWER condominium A mortgage broker is CORRECT ANSWER an intermediary In Texas, which does a purchaser receive at the foreclosure sale? CORRECT ANSWER Whatever title the borrower had A typical loan origination fee is CORRECT ANSWER 1% of the loan amount. Which type of property can be purchased under a land contract? CORRECT ANSWER Unimproved acreage and residential Which type of lien is the d...

An up-front premium is charged on FHA loans used to purchase all of these EXCEPT - ANSWER-condominium A mortgage broker is - ANSWER-an intermediary In Texas, which does a purchaser receive at the foreclosure sale? - ANSWER-Whatever title the borrower had A typical loan origination fee is - ANSWER-1% of the loan amount. Which type of property can be purchased under a land contract? - ANSWER-Unimproved acreage and residential Which type of lien is the deed of trust on a property? - ...

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