Exam (elaborations)
Unit 10 - NY real estate QUESTIONS AND CORRECT ANSWERS GRADED A+ 2024/2025
- Course
- Institution
Unit 10 - NY real estate QUESTIONS AND CORRECT ANSWERS GRADED A+ 2024/2025
[Show more]
Content preview
Unit 10 - NY real estateA loan in which the whole debt has been paid off at the stop of the loan term is - ANSa
fully-amortized loan
Among the maximum simple phrases wished to talk about mortgages are all of the following
EXCEPT
A)
hobby.
B)
loan-to-value ratio.
C)
down payment.
D)
refinancing. - ANSrefinancing
All of the subsequent are strategies of loan payments EXCEPT
A)
interest most effective.
B)
completely amortized.
C)
in part amortized.
D)
in part complete amortized mortgage. - ANSpartially complete amortized loan.
Married joint-filer taxpayers may also deduct from their earnings tax returns the amount of
hobby paid on 2d mortgages and equity loans - ANSon loans up to a total of $a
hundred,000.
The number one loan mortgage marketplace consists of institutions that - ANSmake loans to
borrowers.
Loans while granted and subsidized via a government organisation are -
ANSnonconventional loans
The divorcing partner who signs off possession of a house that has a loan on it's miles -
ANSstill for my part responsible for the loan, irrespective of no longer being a component
owner. In order to do away with any responsibility for the loan, the spouse could require
novation from the lender.
When a loan is assumed and novation has now not been received by the authentic borrower
and the loan is foreclosed and the court docket sale does not convey sufficient to pay the
debt in full, which of the following might observe?
A)
, Only the assuming party is responsible.
B)
None of these are real.
C)
A deficiency judgment against both the assumer and the unique borrower may be obtained
for the unpaid stability.
D)
Only the original borrower is accountable. - ANSA deficiency judgment towards each the
assumer and the original borrower can be received for the unpaid balance.
When assets is mortgaged, the belongings proprietor need to signal each a mortgage and -
ANSa note
Which is NOT a feature of loan bankers?
A)
Offer checking bills
B)
Sell loan loans to investors
C)
Make actual estate loans
D)
Are regulated by using the country - ANSoffer checking accounts
Which of the following BEST describes a mortgage?
A)
Debenture
B)
Collateral
C)
Lien
D)
Note - ANSLien
The distinction between the cost of the property and all super liens is
A)
equity.
B)
amortization.
C)
precept.
D)
interest. - ANSequity
A new domestic price $a hundred and fifty,000, and the new owners borrowed $a hundred
thirty five,000 on a mortgage loan, paying $15,000 in cash as a down payment. That
$15,000 now represents their - ANSequity
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Qualityexam. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now