HUD EXAM BUNDLE(COMPLETE PACKAGE) - FAIR HOUSING QUESTIONS AND ANSWERS 100% CORRECT!HUD EXAM BUNDLE(COMPLETE PACKAGE) - FAIR HOUSING QUESTIONS AND ANSWERS 100% CORRECT!HUD EXAM BUNDLE(COMPLETE PACKAGE) - FAIR HOUSING QUESTIONS AND ANSWERS 100% CORRECT!HUD EXAM BUNDLE(COMPLETE PACKAGE) - FAIR HO...
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Deed Restrictions - ANSWER-Legally enforceable terms that govern the use of real estate Redlining - 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 fam...
Voorbeeld 2 van de 9 pagina's
In winkelwagenDeed Restrictions - ANSWER-Legally enforceable terms that govern the use of real estate Redlining - 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 fam...
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 - ANSWER-Pay stub A client would like purchase a home within one year. The client is motivated to increas...
Voorbeeld 3 van de 19 pagina's
In winkelwagenWhich 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 - ANSWER-Pay stub A client would like purchase a home within one year. The client is motivated to increas...
Adjustable Rate Mortgage (ARM) - 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. Adjust...
Voorbeeld 2 van de 7 pagina's
In winkelwagenAdjustable Rate Mortgage (ARM) - 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. Adjust...
Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? - ANSWER-Pay Stub A client would like to 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 ...
Voorbeeld 2 van de 8 pagina's
In winkelwagenWhich document is most important when working with a client to develop an initial budget as part of a Client Action Plan? - ANSWER-Pay Stub A client would like to 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 ...
% Impact of Account Payment History on Credit Score - 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 - ANSWER-30% portion of score based on the ratio ...
Voorbeeld 4 van de 37 pagina's
In winkelwagen% Impact of Account Payment History on Credit Score - 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 - ANSWER-30% portion of score based on the ratio ...
What is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? - ANSWER-50% Which is the maximum recommended housing ratio for renting an apartment? - ANSWER-30% Eligibility requirements for down-payment assistance programs include which fa...
Voorbeeld 3 van de 27 pagina's
In winkelwagenWhat is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? - ANSWER-50% Which is the maximum recommended housing ratio for renting an apartment? - ANSWER-30% Eligibility requirements for down-payment assistance programs include which fa...
Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? - ANSWER-List of Assets Retirement plan statement Pay stub X Current lease A client would like purchase a home within one year. The client is motivated to increase househol...
Voorbeeld 2 van de 8 pagina's
In winkelwagenWhich document is most important when working with a client to develop an initial budget as part of a Client Action Plan? - ANSWER-List of Assets Retirement plan statement Pay stub X Current lease A client would like purchase a home within one year. The client is motivated to increase househol...
Conventional Loan - 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 - ANSWER-Front end 31% Back end 43% Limited funds, bad credit, bankruptcy, high debt to inc...
Voorbeeld 2 van de 14 pagina's
In winkelwagenConventional Loan - 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 - ANSWER-Front end 31% Back end 43% Limited funds, bad credit, bankruptcy, high debt to inc...
Civil Rights Act of 1866 - ANSWER-Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 - ANSWER-banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development...
Voorbeeld 3 van de 29 pagina's
In winkelwagenCivil Rights Act of 1866 - ANSWER-Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 - ANSWER-banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development...
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 a...
Voorbeeld 3 van de 21 pagina's
In winkelwagenTypes 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 a...
Jake has a session with a new client, Ruth, later that day. She has received notice that her apartment complex, which offers her project-based housing assistance, will be sold to a new management company in six months. The new company will renovate the building and will no longer participate in the ...
Voorbeeld 2 van de 9 pagina's
In winkelwagenJake has a session with a new client, Ruth, later that day. She has received notice that her apartment complex, which offers her project-based housing assistance, will be sold to a new management company in six months. The new company will renovate the building and will no longer participate in the ...
All of the following are true statements about upfront costs associated with renting and buying, except; A. Renters generally pay a security deposit upon signing a lease. B. The average cost due upon signing a lease for a rental is typically between 20% of the monthly rent.. C. Closing costs are...
Voorbeeld 1 van de 3 pagina's
In winkelwagenAll of the following are true statements about upfront costs associated with renting and buying, except; A. Renters generally pay a security deposit upon signing a lease. B. The average cost due upon signing a lease for a rental is typically between 20% of the monthly rent.. C. Closing costs are...
Which describes the legally enforceable terms that govern the use of real estate? A. Residential security restrictions B. Deed restrictions C. Redlined Maps Government-sponsored deeds - ANSWER-B. Deed Restrictions -Deed restrictions are legally enforceable terms that govern the use of real esta...
Voorbeeld 2 van de 5 pagina's
In winkelwagenWhich describes the legally enforceable terms that govern the use of real estate? A. Residential security restrictions B. Deed restrictions C. Redlined Maps Government-sponsored deeds - ANSWER-B. Deed Restrictions -Deed restrictions are legally enforceable terms that govern the use of real esta...
Credit Report - ANSWER-a compilation of data about you that has been gathered by credit reporting agencies or "credit bureaus" Length of Credit History - ANSWER-Makes up 15% of FICO score Type - ANSWER-__ of credit use makes up 10% of FICO score New Credit or Inquiries - ANSWER-Makes up 1...
Voorbeeld 2 van de 6 pagina's
In winkelwagenCredit Report - ANSWER-a compilation of data about you that has been gathered by credit reporting agencies or "credit bureaus" Length of Credit History - ANSWER-Makes up 15% of FICO score Type - ANSWER-__ of credit use makes up 10% of FICO score New Credit or Inquiries - ANSWER-Makes up 1...
Primary function of HUD - ANSWER-Creating and managing programs to provide quality affordable housing, prevent housing discrimination and help build sustainable communities. HUD investigates complaints of housing discrimination based on? - ANSWER-Race Color Religion National Origin Sex Disab...
Voorbeeld 1 van de 1 pagina's
In winkelwagenPrimary function of HUD - ANSWER-Creating and managing programs to provide quality affordable housing, prevent housing discrimination and help build sustainable communities. HUD investigates complaints of housing discrimination based on? - ANSWER-Race Color Religion National Origin Sex Disab...
Which document should the counselor review with the client to identify spending habits and track expenses? A. Credit report B. Pay stubs C. Bank Statement D. Tax returns - ANSWER-Bank Statement Which additional information would the housing counselor need to prepare a household budget for t...
Voorbeeld 2 van de 11 pagina's
In winkelwagenWhich document should the counselor review with the client to identify spending habits and track expenses? A. Credit report B. Pay stubs C. Bank Statement D. Tax returns - ANSWER-Bank Statement Which additional information would the housing counselor need to prepare a household budget for t...
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...
Voorbeeld 2 van de 10 pagina's
In winkelwagenWhich 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...
Rental 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-Prior...
Voorbeeld 4 van de 42 pagina's
In winkelwagenRental 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-Prior...
1) A client would like to purchase a house 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 reach this goal? - ANSWER-Find a second job 2) Six months ago a client left a j...
Voorbeeld 1 van de 2 pagina's
In winkelwagen1) A client would like to purchase a house 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 reach this goal? - ANSWER-Find a second job 2) Six months ago a client left a j...
A client, who is a divorced local school teacher, is interested in purchasing his first home. He wishes to stay in the same neighborhood where he now lives and to purchase a home in the low-$100,000 range. He currently leases a car for $435 a month and would like to buy a new car. The client has a l...
Voorbeeld 4 van de 33 pagina's
In winkelwagenA client, who is a divorced local school teacher, is interested in purchasing his first home. He wishes to stay in the same neighborhood where he now lives and to purchase a home in the low-$100,000 range. He currently leases a car for $435 a month and would like to buy a new car. The client has a l...
Back-end ratio - ANSWER-The back-end ratio (or debt-to-income ratio) compares total debt to gross monthly income. The client's only debt is a $435 lease payment, so the $950 mortgage payment brings his total monthly debt to $1,385. He earns $50,000 per year, which equals $4,166.67 per month. The cl...
Voorbeeld 4 van de 35 pagina's
In winkelwagenBack-end ratio - ANSWER-The back-end ratio (or debt-to-income ratio) compares total debt to gross monthly income. The client's only debt is a $435 lease payment, so the $950 mortgage payment brings his total monthly debt to $1,385. He earns $50,000 per year, which equals $4,166.67 per month. The cl...
Which document should the counselor review with client to identify spending habits and track expenses? - ANSWER-Bank Statement Which additional information would the housing counselor need to prepare a household budget? - ANSWER-Net Income What is the maximum percent of area median income allo...
Voorbeeld 1 van de 2 pagina's
In winkelwagenWhich document should the counselor review with client to identify spending habits and track expenses? - ANSWER-Bank Statement Which additional information would the housing counselor need to prepare a household budget? - ANSWER-Net Income What is the maximum percent of area median income allo...
All of the following are true statements about upfront costs associated with renting and buying, except; A. Renters generally pay a security deposit upon signing a lease. B. The average cost due upon signing a lease for a rental is typically between 20% of the monthly rent.. C. Closing costs are...
Voorbeeld 2 van de 6 pagina's
In winkelwagenAll of the following are true statements about upfront costs associated with renting and buying, except; A. Renters generally pay a security deposit upon signing a lease. B. The average cost due upon signing a lease for a rental is typically between 20% of the monthly rent.. C. Closing costs are...
Default - ANSWER-When no payments made after 60 to 90 days... 30 for FHA loans Front-End Ratio Equation - ANSWER-Monthly housing expenses/gross monthly income Front-End Ratio maximums - ANSWER-28% or less - conventional loan 31% or less for FHA, 30% or less for rentals Back-End Ratio (Debt...
Voorbeeld 2 van de 9 pagina's
In winkelwagenDefault - ANSWER-When no payments made after 60 to 90 days... 30 for FHA loans Front-End Ratio Equation - ANSWER-Monthly housing expenses/gross monthly income Front-End Ratio maximums - ANSWER-28% or less - conventional loan 31% or less for FHA, 30% or less for rentals Back-End Ratio (Debt...
The following contributed to the increase in foreclosure rates, except: A. Subprime lending B. Risky loan products with feature like negative amortization C. Demand from the secondary market D. Homeowners paying off mortgages early E. Using teaser rates to qualify more borrowers. - ANSWER-D. H...
Voorbeeld 2 van de 9 pagina's
In winkelwagenThe following contributed to the increase in foreclosure rates, except: A. Subprime lending B. Risky loan products with feature like negative amortization C. Demand from the secondary market D. Homeowners paying off mortgages early E. Using teaser rates to qualify more borrowers. - ANSWER-D. H...
All of the following would help a counselor develop a realistic household budget, except: A. Payment information for a paid-off car B. Amount spent on groceries C. Rent payment information D. Monthly cable bill - ANSWER-Answer: A Since the car is paid off, the expense does not need to be includ...
Voorbeeld 1 van de 4 pagina's
In winkelwagenAll of the following would help a counselor develop a realistic household budget, except: A. Payment information for a paid-off car B. Amount spent on groceries C. Rent payment information D. Monthly cable bill - ANSWER-Answer: A Since the car is paid off, the expense does not need to be includ...
HUD Housing Counselor Study for Exam – JLM with Complete Solutions! HUD Housing Counselor Study for Exam – JLM with Complete Solutions! HUD Housing Counselor Study for Exam – JLM with Complete Solutions! HUD Housing Counselor Study for Exam – JLM with Complete Solutions! ...
Voorbeeld 2 van de 6 pagina's
In winkelwagenHUD Housing Counselor Study for Exam – JLM with Complete Solutions! HUD Housing Counselor Study for Exam – JLM with Complete Solutions! HUD Housing Counselor Study for Exam – JLM with Complete Solutions! HUD Housing Counselor Study for Exam – JLM with Complete Solutions! ...
HUD Exam- Homeownership Questions and Answers 100% Correct! HUD Exam- Homeownership Questions and Answers 100% Correct! HUD Exam- Homeownership Questions and Answers 100% Correct! HUD Exam- Homeownership Questions and Answers 100% Correct! HUD Exam- Homeownership Questions and An...
Voorbeeld 2 van de 8 pagina's
In winkelwagenHUD Exam- Homeownership Questions and Answers 100% Correct! HUD Exam- Homeownership Questions and Answers 100% Correct! HUD Exam- Homeownership Questions and Answers 100% Correct! HUD Exam- Homeownership Questions and Answers 100% Correct! HUD Exam- Homeownership Questions and An...
HUD Test 1 Questions and Answers (Graded A+)HUD Test 1 Questions and Answers (Graded A+)HUD Test 1 Questions and Answers (Graded A+)HUD Test 1 Questions and Answers (Graded A+)HUD Test 1 Questions and Answers (Graded A+)HUD Test 1 Questions and Answers (Graded A+)HUD Test 1 Questions and Answers (Gr...
Voorbeeld 3 van de 17 pagina's
In winkelwagenHUD Test 1 Questions and Answers (Graded A+)HUD Test 1 Questions and Answers (Graded A+)HUD Test 1 Questions and Answers (Graded A+)HUD Test 1 Questions and Answers (Graded A+)HUD Test 1 Questions and Answers (Graded A+)HUD Test 1 Questions and Answers (Graded A+)HUD Test 1 Questions and Answers (Gr...
HUD Housing Counselors Module 1.1 Financial Management/Budget with Complete Solutions! HUD Housing Counselors Module 1.1 Financial Management/Budget with Complete Solutions! HUD Housing Counselors Module 1.1 Financial Management/Budget with Complete Solutions! HUD Housing Counselors M...
Voorbeeld 1 van de 2 pagina's
In winkelwagenHUD Housing Counselors Module 1.1 Financial Management/Budget with Complete Solutions! HUD Housing Counselors Module 1.1 Financial Management/Budget with Complete Solutions! HUD Housing Counselors Module 1.1 Financial Management/Budget with Complete Solutions! HUD Housing Counselors M...
Deficiency Judgement - ANSWER-If the foreclosure sale does not produce enough to cover the debt the mortgagee (lender) is entitled to a ____________ against the borrower for the unpaid amount Deed in Lieu - ANSWER-a deed given by a mortgage lender to satisfy a debt Foreclosure - ANSWER-The sei...
Voorbeeld 1 van de 1 pagina's
In winkelwagenDeficiency Judgement - ANSWER-If the foreclosure sale does not produce enough to cover the debt the mortgagee (lender) is entitled to a ____________ against the borrower for the unpaid amount Deed in Lieu - ANSWER-a deed given by a mortgage lender to satisfy a debt Foreclosure - ANSWER-The sei...
HUD Counselor Certification Practice Questions and Answers 100% Accurate! HUD Counselor Certification Practice Questions and Answers 100% Accurate! HUD Counselor Certification Practice Questions and Answers 100% Accurate! HUD Counselor Certification Practice Questions and Answers 100% Accur...
Voorbeeld 3 van de 18 pagina's
In winkelwagenHUD Counselor Certification Practice Questions and Answers 100% Accurate! HUD Counselor Certification Practice Questions and Answers 100% Accurate! HUD Counselor Certification Practice Questions and Answers 100% Accurate! HUD Counselor Certification Practice Questions and Answers 100% Accur...
Civil rights act of 1866 - ANSWER-All people born in US, is a citizen act that prohibits racial discrimination in the sale and rental of housing plessy v. ferguson - ANSWER-involved segregated railway cars, upheld racial segregation in public facilities—the "separate but equal" doctrine ...
Voorbeeld 1 van de 4 pagina's
In winkelwagenCivil rights act of 1866 - ANSWER-All people born in US, is a citizen act that prohibits racial discrimination in the sale and rental of housing plessy v. ferguson - ANSWER-involved segregated railway cars, upheld racial segregation in public facilities—the "separate but equal" doctrine ...
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 a client's resp...
Voorbeeld 2 van de 9 pagina's
In winkelwagenWhat 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 a client's resp...
Telephone Customer Services: - ANSWER-Assistance provided by the financial institution over the phone to help customers with banking complications. Mobile Banking: - ANSWER-Allows clients to utilize banking services with mobile technology. Services often included in mobile banking include a view ...
Voorbeeld 4 van de 66 pagina's
In winkelwagenTelephone Customer Services: - ANSWER-Assistance provided by the financial institution over the phone to help customers with banking complications. Mobile Banking: - ANSWER-Allows clients to utilize banking services with mobile technology. Services often included in mobile banking include a view ...
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