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19 Cards in this Set
- Front
- Back
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Collateral |
Property as security for a loan. |
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American Balanced Budget |
Never created by govt |
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RegulationZ |
Requires full disclosure if any trigger terms are used ie int rate,#of pyts,term,pyts,% |
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Interstate Land Sales Disclosure Act |
Applies to 30 lots sold interstate |
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Farm Loans |
Flexible due to climate affecting productivity |
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Non confirming loans |
Best described as loans not meeting Fannie or Freddie guidelines |
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Private financing funds |
Sellers are the most important source of |
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Shopping center financing |
Life insurance company most likely finance |
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REIT |
Real Estate Investment Trust |
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From where is the return of investment derived from in an REIT investment? |
Income from apartments offices and shipping centers. |
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Private financer |
When a seller carries the note . |
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Statutory period of redemption |
When an owners priory is foreclosed on for non payment of taxes ..the owner can redeem the property 6 months late if the state he/she lives in had a statutory proud of redemption. |
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Does a contract for deed include conveyance of title at closing? |
No |
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What was the maximum loan for FHA in 2012? |
417,000 |
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How are FHA maximum loan limits calculated? |
Using the area percentage of the median house price, established by the Federal Housing Finance Agency. |
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How do you calculate minimum down payment required for FHA? |
Multiply sales price by 3.5% |
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How is the maximum loan for a VA loan with no money down calculated? |
Based on the lender multiplying the VA guarantee by 4. |
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Why are lenders not as concerned about repayment of a debt now? |
Loan to value had increased. |
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What approach is used when appraising a church? |
Cos |
