Non recourse debt - Study guides, Class notes & Summaries

HECM REVERSE MORTGAGE EXAM QUESTIONS AND ANSWERS 100% PASS HOME EQUITY - Answer- HOME VALUE MINUS LIENS ON THE HOME PURPOSE OF A REVERSE MORTGAGE - Answer- GENERATE CASH FORWARD MORTGAGE PURPOSE - Answer- THE ORDINARY MORTGAGE MOST PEOPLE USE TO PURCHASE HOME FORWARD MORTGAGE - Answer- BORROWERS EQUITY INCREASES OVER TIME THE LOAN BALANCES DECREASES AS PAYMENTS ARE MADE TO LENDER REVERSE MORTGAGE - Answer- RISING DEBT FALLING EQUITY TRANSACTIONS HECM BASIC FEATURES - Answer- THE BORROWE...

NMLS Practice Test 100% Correct Solved 1) Seller can Sell property at a premium/profit with Fannie Mae financing after? 30 days •60 days •90 days - Correct Answer️️ -•90 days 2) A COFI index is defined as? Cost of funds index •Cost of financial index •Cost of funding insurance - Correct Answer️️ -cost of fund index 3) Subordinate financing relates to •seller financing. •second mortgages. •financing in the secondary mortgage market. •subprime loans. - Correc...

Barney Fletcher Real Estate Exam 2024 Updated Questions with Verified 100% Correct Answers Latest Edition Barney Fletcher Real Estate Exam: 2024 Updated Questions with Verified 100% Correct Answers | Latest Edition combining two or more contiguous parcels of real estate into a single parcel under one ownership - Assemblage an increase in value resulting from assemblage - plottage personal property that is permanently attached to real property and goes with the property when its sold - ...

CLFP Terms 4 Questions and Answers Latest Update | Graded A+. What information is reported on the income statement? correct answerIts a presentation of revenues and expenses for a specific time period (month, quarter, year). What information is reported on the statement of cash flows? correct answerIt shows cash receipts and payments during a specific period and includes non-cash expenses like depreciation and amortization. Equation for cash flow correct answer[net income + non-cash expense...

In most cases, broker compensation, as a percentage of home price, falls somewhere between: - correct answer -5-7% A Christian organization owns a fourplex. It wants to rent to only Christian tenants. Under the federal Fair Housing Act, is this legal? - correct answer -Yes. Religious organizations which rent to tenants for residential purposes are exempt from the Fair Housing Act What happens to trade fixtures after a business moves out of a leased property? - correct answer -The tenant re...

HECM Exam questions and correct answers A reverse mortgage is... - ANSWERS a loan against the value of a home that provides cash advances to a borrower, requiring no repayment until a future time. A reverse mortgage is different from a home equity loan because - ANSWERS You do not have to make monthly repayments on a reverse mortgage A reverse mortgage must be repaid - ANSWERS When the last eligible borrower dies, sells, or permanently moves away The purpose of a reverse mortgage is mo...

Mortgage Debt - Answer A loan secured by a lien on real property Why mortgages are the best debt - Answer Secured by the place where the borrower lives, so more secure (lower interest rates due to lower default risk), longer loan terms, all of which leads to lower payments. Also, tax favored (deductible interest, lower effective interest rate) Promissory Note - Answer Promise to repay (the legal obligation), terms of repayment (interest, frequency, duration), negotiable instrument (holder ...

HECM REVERSE MORTGAGE EXAM QUESTIONS AND ANSWERS 100% PASS HOME EQUITY - Answer- HOME VALUE MINUS LIENS ON THE HOME PURPOSE OF A REVERSE MORTGAGE - Answer- GENERATE CASH FORWARD MORTGAGE PURPOSE - Answer- THE ORDINARY MORTGAGE MOST PEOPLE USE TO PURCHASE HOME FORWARD MORTGAGE - Answer- BORROWERS EQUITY INCREASES OVER TIME THE LOAN BALANCES DECREASES AS PAYMENTS ARE MADE TO LENDER REVERSE MORTGAGE - Answer- RISING DEBT FALLING EQUITY TRANSACTIONS HECM BASIC FEATURES - Answer- THE BORROWE...

In most cases, broker compensation, as a percentage of home price, falls somewhere between: - 5-7% A Christian organization owns a fourplex. It wants to rent to only Christian tenants. Under the federal Fair Housing Act, is this legal? - Yes. Religious organizations which rent to tenants for residential purposes are exempt from the Fair Housing Act What happens to trade fixtures after a business moves out of a leased property? - The tenant removes their trade fixtures and takes them upon m...

NATIONAL REAL ESTATE EXAM In most cases, broker compensation, as a percentage of home price, falls somewhere between: - ANSWER 5-7% A Christian organization owns a fourplex. It wants to rent to only Christian tenants. Under the federal Fair Housing Act, is this legal? - ANSWER Yes. Religious organizations which rent to tenants for residential purposes are exempt from the Fair Housing Act What happens to trade fixtures after a business moves out of a leased property? - ANSWER The tenant re...