Blockbusting Study guides, Class notes & Summaries

AARMR stands for - American Association of Residential Mortgage Regulations AML - Anti-Money Laundering Blockbusting - Illegal practice of inducing homeowners to sell their properties cheaply by telling them that a certain people of a certain race, national origin or religion are moving into the area, and thus profiting by reselling at a higher price CC&R - covenants, conditions, and restrictions CFPB - The Consumer Financial Protective Bureau - an independent federal agency that holds pr...

A broker obtained an offer with a deposit from a buyer on June 10, 2008, which states that the offer was irrevocable for five days from date. There had been no acceptance by the next day when the buyer called and revoked his offer. The broker should: get an acceptance by June 15th. get an acceptance by June 16th. return the deposit to the buyer. place the deposit in escrow. CORRECT ANSWER return the deposit to the buyer. Informing a person that he should sell his property because non...

Hawaii real estate exam study guide Questions and Correct Answers, Updated 2024. 100% Four land divisions in correct sequence. Division one - oahu Division Two - Maui Division three - Big Island, Division four - Kauai. What is an example of modular Pre-fabricated buildings Blockbusting Making you feel uncomfortable about who moved in your neighborhood Steering Race not fitting in with another race. Land contract Installment contract/agreement of sale Seller removed two speakers af...

NMLS 2024 National Exam Questions With Answers. Blockbusting - correct answer The practice of getting people to sell their homes at bargain prices by suggesting that certain ethnic groups are going to move into the area is nicknamed: CHARM Booklet - correct answer You and the borrower believe an Adjustable Rate Mortgage would be best for the borrower. What is the name of the booklet you are required to give? 15 - correct answer How many days in advance of transferring a loan to ano...

NYREI School Exam Questions and Answers Latest Version Graded A+ What is the minimum licensing requirement to sell commercial real estate in New York? a real estate salesperson's license What is the preferred method of creating an agency relationship? expressed agency An amenity purchaser occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. real / deed A salesperson who is an independent contractor is not subject to withholding r...

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 acknowledge and 90 d...

An attempt to induce panic selling in a given neighborhood. a. Blockbusting b. Stigmatized c. Steering d. Straw buyer e. Reasonable Accommodation - ANSWER-a. Blockbusting A(n) _________________ property is one where a particular event has affected the desirability of said property. a. Undesirable b. Stigmatized c. Unsellable d. Foreclosed - ANSWER-b. Stigmatized (ex: murder or haunting) A(n) _________________ occurs when a buyers assumes and agrees to pay the seller's existin...

Blockbusting causes: A Trust busting B Panic peddling C Blind advertising D Redlining - B. Panic Peddling Blockbusting causes panic peddling (also known as panic selling), where homeowners quickly sell their homes for fear of a drop in home values due to the entry of a protected class into their neighborhood. Which of the following advertisements would violate fair housing law? A Private outdoor space B No elevator access C Walk-in closet D Easy access to the highway - C Walk-in close...

What would prevent a seller from providing marketable title - Mechanics lien The seller has required that the buyer must use his title insurance company and that brokers reduce their portion of the real estate commission, increasing the sellers net proceeds - This is illegeal according to respa If a license mentions MLS when advertising, the advertisement must include - the name of the MLS According to the New Jersey Real estate Licensing Laws, which of the following is a requirement for any ...

sales general practice exam – Pearson Questions with 100% Correct Answer Which of the following clauses in a conventional mortgage instrument entitles the lender to accelerate the loan if the loan is assumed? Prepayment Right-to-sell Due-on-sale Variable interest rate - Answer- Due-on-sale If the value of a property is affected by negative forces outside the property, which are beyond the control of the owner, this is referred to as: physical deterioration accrued depreciation func...