Foreclosures - Study guides, Class notes & Summaries

New York Real Estate Exam with 100% Verified and Updated 2024 Where is the license law written? - Answer ️️ -Article 12-A Who is responsible for administrative discipline of real estate licensees? - Answer ️️ - Department of State or Secretary of State Under NYS Real Property Law, when Department of State revokes a salesperson's license, how much time must past before the salesperson can be relicensed? - Answer ️️ -One year If a broker's licensed is revoked, what happens to th...

What change in family life during this era created a sense of disunion that fed the popularity of reform and revival movements? Huge increases in alcohol consumption led more men to become absentee fathers. Home foreclosures rose to such a high level that nearly half of all American families became homeless. People began to move away from their parents at an earlier age. Points: 1 / 1 Close Explanation Explanation: Young people in this era left home much earlier than their parents had....

Forbearance or Moratorium (to avoid foreclosure) - ANSWER waiver of principal payments (interest Only) Deferred interest (Principal only) Restructure the Mortgage loan - ANSWER involves lowering the interest rates, accruals of interest, or extended maturity date. nonrecourse loan - ANSWER borrower is not personal liable for the original loan, the lender could decided to make the borrower personally liable as part of the restructuring agreement. the process of redesigning a loan - ANSW...

Which federal law requires that the Loan Estimate be provided to the borrower within three business days of the time of loan application is taken? - TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - Loan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed for an owner-occupied, residential refinance? - After 3 business-day rescission period What is the adjustab...

Macroeconomic Effects on Real Estate correct answers- Income levels and distribution amongst households -Property ownership -Rental trends and vacancy rates -New development/redevelopment -Vacant land -Past and future trends in these areas -Inflation and Interest rate -Foreign investment -Unemployment and foreclosures impact of High Unemployment on Real Estate correct answers-Demand for office space may decrease as companies downsize -Consumer spending decreases, which may impact re...

When must earnest money and/or deposits accepted by the broker be put into the escrow account? a. Earnest money does not have to be put into an escrow account. b. By the close of business of the next banking day c. Within 24 hours d. Within 48 hours b. By the close of business of the next banking day In order to record a deed, it MUST be in writing and: a. signed by grantee b. recite the actual purchase price c. acknowledged d. be free of all liens c. acknowledged An exclusive agency ...

NMLS Safe Test Mortgage Licensing Practice Exam Q's with Complete Solutions Which federal law requires that the Loan Estimate be provided to the borrower within three business days of the time of loan application is taken? TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? Loan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed for an owner-occupied, r...

Property Manager's Role - Answer achieve the objectives of the property owners; generate income for the owners; and preserve and/or increase the value of the investment property. Current Challenges as Property Manager - Answer The most recent specialty is managing REOs, bank-owned real estate, as a result of so many housing foreclosures. Real Property - Answer surface of a parcel of land and moves on to the owner's rights to the air above the surface and the soil and minerals ...

FINAL EXAM (Bob Brooks) Questions and Answers Already Passed When must earnest money and/or deposits accepted by the broker be put into the escrow account? a. Earnest money does not have to be put into an escrow account. b. By the close of business of the next banking day c. Within 24 hours d. Within 48 hours b. By the close of business of the next banking day In order to record a deed, it MUST be in writing and: a. signed by grantee b. recite the actual purchase price c. ac...

What can you infer about Charles Darwin, Charlotte Bronte, and Marcel Proust? They all suffered from intense anxiety Which of the following statements about fear would Karen Thompson Walker agree with? We often fear imagined horrors more than realistic dangers Out of all the stranded sailors' fears, their fears of ________ most influenced the decisions they made. cannibals President Roosevelt would most likely agree with which of the following statements? Cities are too crowded, so f...