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45 Cards in this Set

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TRUTH IN LENDING HAS FOUR DISCLOSURES-WHAT ARE THESE?
CASH PRICE
DOWN PAYMENT
HOW MANY PAYMENTS
A.P.R.(ANNUAL PERCENTAGE RATE)
TRUTH IN LENDING ALSO MEANS
FCCPA WHICH MEANS WHAT?
FEDERAL CONSUMER CREDIT PROTECTION ACT
RIGHT OF RECISSION MEANS YOU HAVE HOW MANY DAYS TO CHANGE YOUR MIND?
3, BUT ONLY ON REFINANCING, NOT INITIAL FINANCING.
TIL MEANS:
FRB MEANS:
APR MEANS:
ECOA MEANS:
FCRA:
TRUTH IN LENDING
FEDERAL RESERVE BOARD
ANNUAL PERCENTAGE RATE
EQUAL CREDIT OPPORTUNITY ACT
FAIR CREDIT REPORTING ACT
ECOA'S 8 DIFFERENT CLASSES ARE WHAT?
RACE, COLOR, RELIGION, NATIONAL ORIGIN, SEX, PUBLIC ASSISTANCE, AGE, MARITAL STATUS
P.A.M STANDS FOR :
PUBLIC ASSISTANCE
AGE
MARITAL STATUS
WHAT IS IT CALLED TO ARGUE SOMETHING ON A CREDIT REPORT?
DISPUTE
THE F.C.R.A. (FAIR CREDIT REPORTING ACT) GIVES US WHAT?
1. RIGHT TO INSPECT REPORT
2. CORRECT
3. ADD 100 WORDS TO REPORT
THE 3 FAIR HOUSING LAWS ARE
1. _____ RIGHTS ACT OF 1866
2. _____VS _____
3. _______CIVIL RIGHTS ACT OF ____
1. CIVIL
2. JONES VS MAYER
3. CIVIL, 1968
CIVIL RIGHTS ACT PROHIBITED:
RACIAL DISCRIMINATION
JONES VS MAYER OF 1968 DID WHAT?
REAFFIRMED 1866 PROHIBITED ALL RACIAL DISCRIMINATION IN BOTH PUBLIC AND PRIVATE HOUSING
WHEN THE CIVIL RIGHTS ACT 1968 WAS AMENEDED IN 1968 AS TITLE VIII TO DO WHAT?
ABOLISHED PRIVATE NEIGHBORHOODS
THE STATE AND FEDERAL HOUSING LAWS PROTECT WHICH 7 CLASSES?
RACE, COLOR, NATIONAL ORIGIN, RELIGION, SEX, MARITAL STATUS AND HANDICAP
WHAT IS THE LEGAL DEFINITION OF FAMILY?
ONE PERSON ABOVE THE AGE OF 18 WHO HAS CUSTODY OF SOMEONE UNDER THE AGE OF 18
3 BIG ILLEGAL THINGS IN REAL ESTATE BY STATE AND FEDERAL LAWS:
STEERING
BLOCKBUSTING
REDLINING
STEERING MEANS WHAT?
LEADING SOMEONE TO A NEIGHBORHOOD YOU THINK THEY SHOULD LIVE IN
BLOCKBUSTING MEANS WHAT?
AN ILLEGAL DISCRIMINATING PRACTICE WHERE AN AGENT INDUCES A PROPERTY OWNER TO LIST HIS PROPERTY BY SAYING THE NEIGHBORHOOD MAY CHANGE DUE TO RACE, COLOR SEX, RELIGION,OR ANCESTRY, LOWERING PROPERTY VALUES
REDLINING MEANS WHAT?
PRACTICE OF SOME LENDERS WHICH RESTRICTS THE # OF LOANS OR LOAN-TO-VALUE RATIO IN CERTAIN NEIGHBORHOODS
IF YOU MAKE A FAIR HOUSING COMPLAINT FEDERALLY WHO DO YOU GO TO?
HUD
A FAIR HOUSING COMPLAINT TAKES ___YEAR(S) TO COMPLAIN AND ___YEAR(S) TO FILE
1
2
IF YOU LIVE IN SOUTH CAROLINA, WHERE DO YOU MAKE A FAIR HOUSING COMPLAINT FIRST?
SHAC- SC HUMAN AFFAIRS COMMISSION
A HUD COMPLAINT MUST BE MADE IN ___YEAR(S)
MUST HAVE COURT ACTION IN ___ YEAR(S)
1
2
IF FILING WITH STATE INSTEAD OF FEDERALLY THOUGH, YOU'D CUT THIS TIME IN HALF
HUD FINES ARE HOW MUCH FOR
1ST OFFENSE_______
2ND OFFENSE_______
3RD OFFENSE________
10,000
25,000
50,000
IF IT'S A STING OPERATION, 1ST IS 25,000 & 2ND IS 50,000
THE AMERICANS WITH DISABILITIES ACT (ADA) PROHIBITS _____FOR _____AND ____DISABILITIES
DISCRIMINATION
PHYSICAL
MENTAL
WHERE DOES THE ADA PROTECT THE DISABLED FROM BEING DISCRIMINATED AGAINST?
EMPLOYMENT
PLACES OF PUBLIC ACCOMODATION
ADA FINES ARE _____FOR 1ST OFFENSE AND _____FOR 2ND OFFENSE
50,000
100,000
YOUR FIRST COMPLAINT TO THE ADA GOES TO THE _____DEPARTMENT
JUSTICE
RENTAL DEDUCTIONS (AS IN THE TAX REFORM ACT OF 1986)CAN BE TAKEN ON _____INCOME OR _____LOSSES.
ACTIVE
PASSIVE
WHEN YOU SELL YOUR PROPERTY YOU HAVE A PROFIT TAX GAIN OF _____FOR A SINGLE AND ____FOR JOINT RETURN
250,000
500,000
THE MOST YOU EVER HAVE TO PAY FOR A CAPITAL TAX GAIN WHEN YOU SELL PROPERTY IS____
15%
A _____GAIN THE AMOUNT YOU ACTUALLY GOT AND A _____GAIN IS THE AMOUNT THE IRS TAXES.
REALIZED
RECOGNIZED
THE LEAD PAINT DISCLOSURE APPLIES TO HOMES BUILT BEFORE____
1978
THE LEAD PAINT DISCLOSURE MUST BE SIGNED BY THE ____, THE _____AND THE ____.
SELLER
BUYER
AGENT
LEAD PAINT USUALLY AFFECTS______AND THE ____.
KIDS
ELDERLY
DOES A SELLER OF A HOME WITH LEAD PAINT HAVE TO REPAIR IT?
NO, THEY ONLY HAVE TO TELL YOU.
WHAT IS RESPA AND WHAT IS ITS PURPOSE?
REAL ESTATE SETTLEMENT PROCEDURES ACT- REQUIRES LENDERS PROVIDE CONSUMERS WITH ADVANCE DISCLOSURE ON SETTLEMENT SERVICES AND CHARGES
THE PURPOSE OF THE RESPA IS TO HELP _____ BECOME BETTER LOAN SHOPPERS AND ELIMINATE _____ AND REFERRAL FEES
CONSUMERS
KICKBACKS
RESPA VIOLATIONS MAY RESULT IN LIABILITY UP TO TWICE THE ____CHARGE, FINE OF _____AND A PRISON TERM OF UP TO ____YEAR(S), AND ATTORNEY'S FEES UP TO _____
FINANCE
5,000
ONE
1,000
ACCORDING TO THE ANTI-TRUST LAWS, AGENTS CAN'T BE INVOLVED IN ____FIXING, _____COMPETITORS, OR ALLOCATION OF _____.
PRICE
BOYCOTTING
CUSTOMERS(COMPETING AGENCIES AGREE TO SPLIT UP A TERRITORY)
THE ANTI-TRUST LAWS ARE ALSO CALLED _____-______.
SHERMAN-CLAYTON
IF YOU HEAR ANOTHER AGENT BREAKING THE ANTI-TRUST PENALTIES, YOU MUST ____,_____,AND _____
OBJECT
LEAVE
DOCUMENT
(THINK OF "O.L.D"AS YOU'LL GROW OLD IN JAIL)
ANTITRUST PENALTIES ARE ___YEARS IN PRISON, ______IN FINES FOR BROKERS AND ____IN FINES FOR CORPORATIONS
3
100,000
1,000,000
(STATES FINE YOU TRIPLE THIS)
A BUSINESS MUST HAVE ATLEAST ___EMPLOYEES TO BE INCLUDED IN ADA LAWS.
25
IN HOMES WITH LEAD PAINT, OWNERS HAVE ____YEARS TO HAVE HOME INSPECTED
10
THE ECOA PROTECTS ___DIFFERENT CLASSES AND THE FAIR HOUSING LAWS PROTECTS ___DIFFERENT CLASSES
ECOA-8
FHA-7