Hud counselor exam 2023 - Study guides, Class notes & Summaries

HUD Housing Counseling Exam Questions & Answers 2023/2024 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 this client? A. Net Income B. Lease Documentation C. Credit Score D. Bankruptcy Discharge - ANSWER-Net Income Which item in the cli...

HUD Exam Prep Questions & Answers 2023/2024 % 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 of total credit extended to the amount of credit owed % Impact of Length of Credit History on Credit Score - ANSWER-15% portion of score based don th...

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HUD Housing Counselor Exam | Complete Questions And Answers | 2023 Tests Adjustable Rate Mortgage (ARM) 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 Gross income minus adjustments, or reductions, that one is eligible for, such as deductions for unreimbursed busines...

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