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10
Apr
0

Liens and Lawsuits Real Estate Exam

Posted by on in Financing
A good Suretestsagent.com question regarding liens and lawsuits.   When dealing with a pending lawsuit on a property that could result in a lien, what is set in place to prevent the transfer of title? A) ORDER OF ATTACHMENT B) LIS PENDENDS C) STATUTE OF FRAUDS D) INSTALLMENT NOTE In order for an individual to prevent the transfer of the title property that may be affected by pending litigation, one would need to file with the courts for an order of attachment. An installment note is a form of promissory note calling repayment of periodic payment of principal only, with... Continue reading
01
Apr
0

Title theory and finance.

Posted by on in Financing
When dealing with title theory states, which of the following is unique to the mortgage?      1) DEFEASANCE 2) ACCELERATION 3) ATTACHMENTS 4) LATE PAYMENT PENALTY A provision that voids a mortgage when the borrower sets aside cash or bonds sufficient enough to service the borrower's debt.        ... Continue reading
01
Apr
0

Title theory and finance

Posted by on in Financing
When dealing with title theory states, which of the following is unique to the mortgage?      1) DEFEASANCE 2) ACCELERATION 3) ATTACHMENTS 4) LATE PAYMENT PENALTY A provision that voids a mortgage when the borrower sets aside cash or bonds sufficient enough to service the borrower's debt.        ... Continue reading
27
Mar
0

Fannie Mae and Freddie Mac loan standards

Posted by on in Financing
When dealing with conventional Fannie Mae and Freddie Mac loan standards, how much of a borrower's annual income is allowed to be dedicated to housing?   1) 28%   2) 50%   3) 29%   4) 25%     Explanation Fannie Mae and Freddie Mac prefer a maximum of 28% for the front ratio and 36% for the back ratio. (28/36)... Continue reading

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