Forward mortgage purpose - Study guides, Class notes & Summaries

An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? Inflation protection Which of these riders will pay a death benefit if the insured's spouse dies? Family term insurance rider Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Disability income plans which require that the insurer can NEVER change or alter premium rates are usually considered ...

TEST BANK for Canadian Income Taxation Planning and Decision Making, 25th Edition by William Buckwold, Joan Kitunen, Matthew Roman, Abraham Iqbal CHAPTER 1 1) Which of the following is not considered to be a separate entity for tax purposes in Canada? A) An individual B) A proprietorship C) A corporation D) A trust 2) Which of the following attitudes and actions is most likely to help decision-makers develop an efficient approach to taxation? A) Cash flows should be considered from a...

Federal National Mortgage Association (FNMA) known as, Fannie Mae - Answer-began in 1938 as an agency of the federal government In 1968, Fannie Mae became a privately owned and managed corporation Fannie Mae operates exclusively in the secondary market and provides support to mortgage lending institutions in the primary market. Freddie Mac is a federally chartered corporation established as the Federal Home Loan Mortgage Corporation (FHLMC) - Answer-in 1970 for the purpose of purchasing mortg...

A reverse mortgage is... -Answer- 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 -Answer- You do not have to make monthly repayments on a reverse mortgage A reverse mortgage must be repaid -Answer- When the last eligible borrower dies, sells, or permanently moves away The purpose of a reverse mortgage is most often -Answer- To generate cash Revers...

2024 Newest| HECM Exam| UPDATE|COMPREHENSIVE FREQUENTLY MOST TESTED QUESTIONS AND VERIFIED ANSWERS|GET IT 100% ACCURATE A reverse mortgage is... - ANSWER-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 - ANSWER-You do not have to make monthly repayments on a reverse mortgage A reverse mortgage must be repaid - ANSWER-When the last eligible borrower die...

ETS MFT BUSINESS EXAM The principal difference between variable costing and absorption costing centers on: a) whether variable manufacturing costs should be included as product costs b) whether fixed manufacturing costs should be included as product costs c) whether fixed manufacturing costs and fixed selling and administrative costs should be included as product costs d) none of these. General Bikes is debating which marketing research options to employ. The traditional p...

HOME EQUITY correct answers HOME VALUE MINUS LIENS ON THE HOME PURPOSE OF A REVERSE MORTGAGE correct answers GENERATE CASH FORWARD MORTGAGE PURPOSE correct answers THE ORDINARY MORTGAGE MOST PEOPLE USE TO PURCHASE HOME FORWARD MORTGAGE correct answers BORROWERS EQUITY INCREASES OVER TIME THE LOAN BALANCES DECREASES AS PAYMENTS ARE MADE TO LENDER REVERSE MORTGAGE correct answers RISING DEBT FALLING EQUITY TRANSACTIONS HECM BASIC FEATURES correct answers THE BORROWER RETAINS TITLE T...

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...

According to the FCRA, when must a credit agency give a consumer a free copy of his credit report? A.)If the loan application is denied because of information in the report B.) Whenever he request it A.)If the loan application is denied because of information in the report A Consumer comes into your office to apply for a loan. The Home Mortgage Disclosure Act requires you to collect information about her race. If she does not wish to provide information for that section of the application, ...

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...

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...