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As opposed to assuming a loan, when the buyer takes title “subject to” an existing loan, the seller remains liable for the debt.
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A negative amortizing loan allows unpaid interest to be added to the principle balance. This is an example of ____
Inflation can be seen in the ____
increase in the cost of living.
A “seasoned” loan is a (n) ____
loan in which there is a record of consistent and timely payments made on the loan.
A shared appreciation mortgage (SAM) is most beneficial when ____
prices of homes are steadily appreciating.
How does a home equity line of credit differ from a second mortgage?
With a home equity line of credit the borrower can draw money as they need it.
An all-inclusive trust deed (AITD), also known as a(n) ____, reduces the seller’s risk of loss and defers more profit taxes than a regular second trust deed note.
When the debt has been paid in full, the trustee will record what legal instrument to remove the lien on a trust deed from the public record?
Which of the following is true concerning a hard money loan?
It is a cash loan.
Under the Federal Truth-in-Lending Act (TILA), the cost of credit is expressed as ____
an annual percentage rate.
Marta borrowed $25,000 on a straight note. In eight months, she paid $1,500. What was the interest rate ____
A blanket encumbrance created for a real estate loan would most likely benefit the ____
The charging by a private lender of more than the maximum amount of interest allowed by law is known as ____
A loan broker arranged a home equity loan for $9,600. The broker must provide the borrower with which of the following?
Mortgage loan disclosure statement.