Mock 9 Flashcards
Which of the following statements regarding alternative payment be finding methods are true?
From the mortgager perspective the refers annuity mortgage allows a means by which the equity rich merger may postpone selling his house.
In graduate payment mortgage payments are increase during the long term.
One of the benefits that the blend and extend options off refinancing is that it helps the borrower avoid repayment penalties
Which of the following statements are false with respect to the statements of adjustments?
The practice is to hold the seller responsible for the tax on the adjustment date itself.
The total of the debit columns on the seller statement must be a denticle to thetotal of credit column On the buyers a statement.
Which of the following statements regarding certificates on title or duplicate certificate of title is true?
No document can be register while the duplicate certificate of title is out of the particular land title office
Changes in mortgage rates tend to lag behind changes in bonds yields in both and upwards and down or move it one reason for the stickiness is?
They may have wide use of advanced commitment for a rate of interest before the loan is advanced.
Farmers browned fruit trees have been destroyed as a result of the flooding of his field caused by the outflow from a neighbour or muni to add more storm sewers which all drain into the only one central drain pipe. A rising muni population has promoted the Muni to add more storm sewers which all drain into the only essential drain system. Farmer Brown has asked the Muni to reroute the storm runoff but to no available.Which of the following statement is true
- The Muny may successfully defend against a lawsuit by farmer brown if it can be proved that the flooding is the unavoidable result of doing an act authority by statue law.
- Injunction may be available to Farmer Brown as a remedy.
Which one of the following loans is the lenders initial capital and periodic income at the greatest risk?
Interest occurring loans
Susan plans on seeing John for the breach of contract. John can except to be the server first with what type of document?
Notice of civil claim
The business practice and consumer protection act requires that the disclosure statement be given by mortgage broker and lender to individual who borrowed for primary personal family or household purpose
Two days prior to the bar incurring an obligation under the credit agreement unless the time period by the borrower.
The market value of a property is best defined as?
An estimate of what a property is likely to sell for an arms length transaction between a willing and a rational average buyer and seller if the property is on the market for a reasonable period of time market conditions are unchanged.
The mortgage lending a bonus is?
The portion of the face value of the mortgage loan will exceed the funds actually received by the borrower.
Which of the following statement is false with respect to fee simple estate?
If a fee simple owner dies with no will and no hers the property cheats back to the previous owners land or his hers
Which of the following statements regarding mortgage loan is false?
Open mortgage usually has a contract rate that is lower than the equivalent closed mortgage
Which of the following is not an area over which the federal government has exclusive authority to pass legislation?
Education
Mortgage broker is considering how her client would be affected if their income were to be come interrupt it for six months?
Stress testing
On the balance sheet, account payable would be classified under ?
Current liabilities
