Financial Statements Flashcards by Andrew Busa | Brainscape

Q

True or false: Housing and insurance premiums are FIXED expenses.

A

True

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Q

Right of Rescission

A

a borrower to cancel a home equity loan or line of credit with a new lender, or to cancel a refinance transaction done with another lender other than the current mortgagee, within three days of closing.

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Q

True or False: State laws supersede Federal laws when it comes to property retention (bankruptcy)

A

True

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Q

Best way to start budgeting process

A

Start with reviewing past expenditures and adjust for anticipated changes in the future.

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Q

Keep budgets to this time frame

A

One year

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