Acceleration clause Study guides, Class notes & Summaries

Oklahoma Real Estate Latest Version Rated A+ Abrogate To abolish in a public manner or end something when formal steps are needed Abstract of Title A summary or copy of all transfers, conveyances, legal proceedings, and any other facts relied on as evidence of title, showing continuity of ownership, together with any other elements of record which may impair title. Abutting The joining, reaching or touching of adjoining land, Abutting parcels of land have a common boundary. acc...

24 hour hold CORRECT ANSWER A term used to describe the type of reservation made on function space within a venue (hotel, convention centre, etc.). An event organizer who has 24-hour hold on a space has exclusive use and access to that space for a period of 24 hours, usually 00:00 to 23:59. 6 by 6 rule CORRECT ANSWER Audiovisual guidelines by which presentation slide should contain more than six words per line of text and no more than six lines of text. Abstract CORRECT ANSWER 1) written s...

abstract - ANSWER-An abstract is a history of the title to property as revealed by the public records Acceleration Clause (in a mortgage) - ANSWER-Clause used in an installment note and mortgage which gives the lender the right to demand payment in full upon the happening of a certain event, such as failure to pay an installment by a certain date, change of ownership without the leaders consent, destruction of the property, or other event which endangers the security of the loan. accession...

When is the acceleration clause used in an agreement for sale - Answer The seller may enforse the clause by foreclosing like a mortgage When a property tax lien is sold at auction, what is the Statutory period of redemption before a foreclosure can occur? - Answer 3 yrs What will not terminate a homestead exemption? - Answer Buying another property Which of the following actions would not transfer title to real property ? - Answer New city zoning ordinance

Colibri School Exam NJ 2023 Question and answer 100% solvedIn a real estate transaction the principal would BEST be described as the Person represented by an agent Bert is showing his buyer a home in a historic district. The buyer mentions in passing that she would like to place solar panels on the roof. Beet knows that the homeowners association CC&Rs would prohibit this to protect the historic character of the neighborhood, but he doesn't tell the buyer for fear she'll loose interest...

PSI NATIONAL REAL ESTATE EXAM LATEST TEST BANK EXAM WITH 500+ QUESTIONS AND CORRECT ANSWERS WITH RATIONALES ALREADY GRADED A+ (BRAND NEW!!) A buyer is getting a fully amortized loan for $220,000. The bank will give the buyer the loan for 15 years at 5 1/2% or for 30 years at 6 1/2%. To the nearest cent, what is the difference between the monthly payments for these two loans? (BE SURE TO USE THE AMORTIZATION TABLE.) - ANSWER-$409.20. A borrower has defaulted on the mortgage. The mortgag...

Acceleration Clause Allows lenders to demand payment in full if the borrower defaults on the loan (can be construed as predatory lending) Alienation Clause (Due on Sale Clause) Says you must repay your mortgage if you sell your home to a new owner (loan is not assumable) Appraiser Independance Requirements replaced HVCC home valuation code of conduct Due on Demand Clause (Considered a predatory practice) The lender can demand repayment of the loan in full at anytime for any reason HOEP...

Which federal law requires that the Loan Estimate be provided to the borrower within three business days of the time of loan application is taken? - ANSWER-TILA What type of scam entails homeowners who are encouraged to refinance their property over and over until little or no equity remains? - ANSWER-Loan flipping or churning After a loan closing, funds are disbursed. When are the funds disbursed for an owneroccupied, residential refinance? - ANSWER-After 3 business-day rescission period W...

Acceleration Clause - Allows lender to demand immediate payment if borrower defaults. Adjustable Rate Mortgage - Loan with interest rate that can change over time. Alienation Clause - Allows lender to demand full payment if property is sold or transferred. Amortization - Gradual repayment of a loan through regular installments. APR - Annual Percentage Rate, including interest and fees. Arrears - Payment made after the due date. Balloon Payment - Large final payment at the end of a loan ter...

Abandonment - ACCURATE ANSWERS When a party in legal possession of property leaves without the intention of reclaiming rights Abstract of Title - ACCURATE ANSWERS A summary of the title history including all encumbrances Acceleration Clause - ACCURATE ANSWERS Mortgage clause DEMANDING FULL payment upon default Accretion - ACCURATE ANSWERS New land added by the elements Accrued Depreciation - ACCURATE ANSWERS Total of all deterioration and obsolescence on a property Acknowledgement...