Reverse mortgage defined - Study guides, Class notes & Summaries

45 Hour Post License Real Estate Florida Test Questions With Answers Latest Updated 2024/2025 | 100% Verified. When consumers, lured by lower prices, venture back into the market, business activity increases and confidence begins to return. Slowly, production facilities gear up to meet the new consumer demand, capital begins to flow back into business enterprises, and additional employees are hired. The three types of operating expenses of an income property are A) fixed, debt service, and...

An economic recovery is defined as A) two successive quarterly declines in the gross domestic product. B) two successive quarterly increases in the gross domestic product. C) a period of higher housing prices. D) two successive periods of stock market gains. correct answers B) two successive quarterly increases in the gross domestic product. Explanation When consumers, lured by lower prices, venture back into the market, business activity increases and confidence begins to return. Sl...

A market for the purchase and sale of existing mortgages designed to provide greater liquidity for selling mortgages is called the ________. secondary market The Federal agency established to restore Fannie Mae and Freddie Mac to a sound and solvent financial condition is _____. Federal Housing Finance Agency (FHFA) The ____ guarantee allows mortgage lenders to obtain a better price for their loan in the capital markets. Gov't. National Mortgage Association - Ginnie Mae ...

Reverse Mortgage Defined

Reverse Mortgage Defined

WebCE: Long-Term Care: Programs, Policies, and Partnerships 100% Pass What is the Primary Goal of Long Term Care To maintain functionality Which of the following most precisely defines the fundamentals of self-care and the basic tasks of life? Activities of daily living Long Term Care occurs only in nursing facilities. False On what basis are benefits payable under a long term care insurance policy typically triggered? the inability to perform defined ADLs A long-term care ombudsman represen...

HECM Exam questions and correct answers A reverse mortgage is... - ANSWERS a loan against the value of a home that provides cash advances to a borrower, requiring no repayment until a future time. A reverse mortgage is different from a home equity loan because - ANSWERS You do not have to make monthly repayments on a reverse mortgage A reverse mortgage must be repaid - ANSWERS When the last eligible borrower dies, sells, or permanently moves away The purpose of a reverse mortgage is mo...

HECM Exam questions and correct answers A reverse mortgage is... - ANSWERS a loan against the value of a home that provides cash advances to a borrower, requiring no repayment until a future time. A reverse mortgage is different from a home equity loan because - ANSWERS You do not have to make monthly repayments on a reverse mortgage A reverse mortgage must be repaid - ANSWERS When the last eligible borrower dies, sells, or permanently moves away The purpose of a reverse mortgage is mo...

HECM Exam questions and correct answers A reverse mortgage is... - ANSWERS a loan against the value of a home that provides cash advances to a borrower, requiring no repayment until a future time. A reverse mortgage is different from a home equity loan because - ANSWERS You do not have to make monthly repayments on a reverse mortgage A reverse mortgage must be repaid - ANSWERS When the last eligible borrower dies, sells, or permanently moves away The purpose of a reverse mortgage is mo...

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? - ANSWER-TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - ANSWER-Loan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed for an owneroccupied, residential refinance? - ANSWER-After 3 business-day rescission period W...