Hud 1 - Study guides, Class notes & Summaries

TEXAS REAL ESTATE NATIONAL EXAM QUESTIONS WITH VERIFIED SOLUTIONS/A+ GRADE 1. An assessment is a special type of appraisal used for A.) Property tax purposes. B.) Estate tax returns. C.) Divorce settlements. D.) Income tax returns. 2 A company who provided materials for an owner to remodel their property may give constructive notice of theirunpaid invoices by: A.) obtain a blanket lien B.) obtain a mechanic's or material man's lien C.) obtain a vendor's lien D.) obtain an inchoa...

Valuation process A systematic procedure used in the valuation of real property. Steps: 1: Define the problem 2:Determine scope of work 3:Gather, record, and verify the data 4:Determine the highest and best use 5:Estimate the land value 6:Estimate value by each of the three approaches (if applicable) 7:Reconcile the estimated values into the final opinion of value 8:Report the final opinion of value Client The party or parties who engage, by employment or contra...

% Impact of Account Payment History on Credit Score - Correct answer-35% portion of credit score based on the payment history of accounts, including late payments, delinquencies, judgments, and liens % Impact of Amounts Owed on Accounts on Credit Score - Correct answer-30% portion of score based on the ratio of total credit extended to the amount of credit owed % Impact of Length of Credit History on Credit Score - Correct answer-15% portion of score based don the overall length of credit ...

Types of Credit Used - Answer Student loan or credit cards only FAKO scores - Answer purchase score which are educational score Fair Credit Reporting Act FCRA - Answer what is in file/dispute/remove 30 days/remove bad 7 yrs/bk 10 yrs/access limited/damages from violators/state rights Fair and Accurate Credit Transactions Act FACTA - Answer free cbrs/fraud alert/truncate cc #s Fair Credit Billing Act (FCBA) - Answer dispute bill error/mail 60 days/creditor 30 days ackno...

HUD Housing Counseling Exam Correctly Solved 100% Correct!! Civil Rights Act of 1866 Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 added gender (sex) to the protected classes Fair Housing Amendments Act of 1988 Added Disability and familial status to protected classes. R...

HUD Housing Counseling Exam Correctly Solved 100% Correct!! Civil Rights Act of 1866 Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 added gender (sex) to the protected classes Fair Housing Amendments Act of 1988 Added Disability and familial status to protected classes. R...

HUD Housing Counseling Exam Correctly Solved 100% Correct!! Civil Rights Act of 1866 Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 added gender (sex) to the protected classes Fair Housing Amendments Act of 1988 Added Disability and familial status to protected classes. R...

Which document should the counselor review with the client to identify spending habits and track expenses? - Answer Bank Statement Which additional information would the housing counselor need to prepare a household budget for this client? - Answer Net income Which item in the client's budget is a fixed expense? - Answer Car lease payment What is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? - Answer 50% Whic...

HUD Housing Counseling Exam Correctly Solved 100% Correct!!

Company officer two's may interact with? - Answer- Their organization's upper levels and with their local and regional government agencies. Company officer two's supervise? - Answer- Other officers Company officer two's act as _______ change agents within their organization - Answer- Change Prerequisite knowledge for for Fire Officer two? - Answer- 1. The organization of thier local government 2. The enabling and regulatory legislation and the law-making process at the local, state...