Hud fair housing exam 100 - Study guides, Class notes & Summaries

HUD Housing Counselor Exam Questions and Answers 100% Pass Adjustable Rate Mortgage (ARM) - Correct Answer ️️ -Adjustable rate mortgages have an initial rate that applies for a defined period of time (typically from one month to 10 years), then adjusts at pre-determined intervals for the life of the loan. Interest rates can increase or decrease when adjusted. Adjusted Gross Income - Correct Answer ️️ -Gross income minus adjustments, or reductions, that one is eligible for, such as...

Deed Restrictions - Correct answer-Legally enforceable terms that govern the use of real estate Redlining - Correct answer-The practice of refusing to make residential loans or imposing more onerous terms on any loans made because of the predominant race, color, national origin, religion, sex, disability, or familial status of the area's residents. Civil Rights Act of 1968 - Correct answer-Following the assassination of Dr. Martin Luther King Jr., Congress passed what monumental piece of ...

HUD Practice Exam Questions and Answers 100% CorrectHUD Practice Exam Questions and Answers 100% CorrectHUD Practice Exam Questions and Answers 100% CorrectHUD Practice Exam Questions and Answers 100% Correct What act came about after the assassination of MLK? - ANSWER-The Civil Rights Act of 1968 A client does not receive a written monthly statement from the credit card company. Which credit law could this omission violate? - ANSWER-Fair Credit Billing Act In which situation would ...

HUD Exam Fair Housing Exam Questions and Answers 100% Correct

HUD Exam Prep Questions and Answers 100% Pass Conventional Loan - Correct Answer ️️ -Front end 28% Back end 36% can go up to 45% to 50%(debt to income), backed by private lenders. AKA prime loans. Good credit, 20% down payment. May have interest only terms FHA - Correct Answer ️️ -Front end 31% Back end 43% Limited funds, bad credit, bankruptcy, high debt to income ratio. EEM (Energy) FHA - Correct Answer ️️ -Front end 33% Back end 45% VA - Correct Answer ️️ -41% USDA -...

HUD Certification Exam Questions and Answers 100% Pass Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? Pay stub Retirement plan statement List of assets Current lease - Correct Answer ️️ -Pay stub A client would like purchase a home within one year. The client is motivated to increase household income as a way to save for a down payment and qualify for a loan. Which is the best solution for the client to reac...

HUD Housing Counseling Exam accurRental Obstacle + Solutions: Low Income - ANSWER -Some Renters reject people whose Rent would be more than 30% of GMI -Solutions -Apply for Housing Assistance -Expand housing search areas -Get a roommate -Move in w/family or friends Strategies for decreasing expenses and debt - ANSWER Prioritize "needs over "wants" -reduce or eliminate "wants" -cancel or downgrade services(e.g. cable, telephone) -limit miscellaneous spending - stick to a shoppin...

NJ Real Estate Exam Questions with Correct Answers (100% Pass) Civil Rights act of 1866 - Answer-Prohibits any discrimination based on race and color, no exceptions Federal Fair Housing Act of 1968 - Answer-Unlawful to discriminate on the basis of race, color, religion or national origin when selling or leasing residential properties. Certain exemptions apply Title VIII - Answer-The portion of the Civil Rights Act of 1968 in which the Federal Fair Housing act is contained Redlining -...

Utah Real Estate Practice Test 1 Questions and Answers 100% Pass Before a licensee's license may be suspended or revoked for prohibited discriminatory practices, the licensee must be afforded a hearing before the: Equal Opportunities Commission of HUD Utah Real Estate Commission Utah Board of Realtors Division of Real Estate Utah Real Estate Commission (The disciplinary process involves a hearing before the Real Estate Commission. Other civil, and possibly criminal, action may re...

Chapter 8: Hawaii Federal Fair Housing Laws and Hawaii Discrimination Law Exam Questions and Answers 100% Pass It is a violation of Hawaii's discrimination law to: A. Refuse to rent to a minor B. Refuse to negotiate with a person because he is blind and uses a guide dog C. Refuse to rent to a person in a branch of the armed services D. Refuse to sell to a person because of his occupation - Correct Answer ️️ -B. Refuse to negotiate with a person because he is blind and uses a guide d...