Deed answer the le - Study guides, Class notes & Summaries

NMLS EXAM 2021 Questions with Correct A Fraud for money Laundering - Answer--Criminal uses scheme known as value tampering -Criminal offers to buy house at reduced rate -Seller must sell at appraised value on paper, but after closing, seller give the criminal the difference in cash. Adverse Action - Answer-An unfavorable credit decision rendered against a consumer made on the basis of information contained on the credit application. If a lender takes adverse action against an applicant,...

The type of deed that warrants only that the grantor has not impaired the title during the term in which he held it is referred to as. 1. Quitclaim Deed 2. General Warranty Deed 3. Bargain and Sale Deed 4. Bargain and Sale Deed, CAG - Answer- Bargain and Sale Deed, CAG Taxes raised to pay for improvements that benefit real estate are referred to as 1. Special Assessments 2. Facilities Taxes 3. Ad Valorem Taxes 4. Luxury Rates - Answer- Special Assessments After Borrowers ...

A property owner has decided to do some landscaping work on his yard. He has planted a tree surrounded by some flowering shrubs. The tree and shrubs are an example of: a. encroachments b. improvements c. surface rights d. emblements - ANSWER-b A property owner has a waterfront lot on a stream. He has the right to use the water from the stream. What is this right called? a. riparian b. littoral c. appropriative d. appropriation - ANSWER-a A commercial tenant is aware that his le...

A property owner has decided to do some landscaping work on his yard. He has planted a tree surrounded by some flowering shrubs. The tree and shrubs are an example of... - ANSWER-improvements A property owner has a waterfront lot on a stream. He has the right to use the water from the stream. What is this right called? - ANSWER-riparian A tenant is aware that his lease will expire at the end of the month. He has begun to disassemble his display cabinets and shelves. Which of the following ...

Notary Signing Agent Complete Study guide Part 2 (updated Winter 2022-2023) HELOC - Construction Loan - Reverse Mortgage - Things not to mention to borrower due to Fair Housing Act - Questions to ask a contracting company if not provided automatically Things to keep on hand in case of unsolicited assignments - What you should receive soon after accepting assignment Borrower Call Checklist - * My name, why I'm calling * Confirm address and time * What will happen ...

Notary Signing Agent Questions and Answers Already Graded A HELOC Home Equity Line of Credit Construction Loan A short-term, interim loan for financing the cost of construction. The lender makes payments to the builder at periodic intervals as the work progresses or is converted to a mortgage. Reverse Mortgage A loan based on the equity in a home that provides homeowners with tax-free income and is paid back with interest when the home is sold or the homeowner dies. No payment as long as the b...

1. The ______________ is the most active in the regulation of real estate licensees. - Answer- d) state government 2. Which of the following is necessary for a deed of conveyance to be valid? - Answer- b) The deed must be in writing 3. The primary distinction between the legal concepts of real estate and real property is that - Answer- a) real property includes ownership of a bundle of rights. 4. An applicant for a salesperson license must - Answer- c) have a finger printing and backgro...

What is the form you sign that says you will pay the loan back ? - CORRECT ANSWERpromissory note What is the post licensing grace period after first expiration ? - CORRECT ANSWERnone Deposits is a form of... - CORRECT ANSWER-valuable consideration Physical land and improvements - CORRECT ANSWER-real property Is it a violation if a sales associate work for two brokers Monday-Friday, and Saturday and Sunday and getting paid commission from both - CORRECT ANSWER-Yes What is the maximum fin...

Mortgage Loans - Answer- Most common choice for financing real property. Can be conventional or non-conventional Conventional Loan - Answer- Neither federally insured nor guaranteed Non-conventional Loan - Answer- Federally insured/guaranteed mortgage loans to encourage ownership (FHA, VA, USDA) Contract for Deed - Answer- A means by which the seller passes possession but retains title to the property until the total or a substantial portion of the purchase price is paid. Installment co...

Mock Exam Questions with correct Answers Residual income is the amount of income available for family support after taxes and social security expense have been subtracted from the gross income and after PITI and other long-term debt has been paid. Response: True Feedback: See Course 6, Lesson 1 FHA Case Numbers are tied to the property, not the borrower. Response: True Feedback: See Course 5, Lesson 1 What is the minimum coverage required on the hazard insurance policy? (sele...