Barney Fletcher GA RE School Exam – Questions
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Terms in this set (77)
What is the tax assessment rate for all 40%
real property in Georgia?
What could happen if a property is Outstanding debts could be pursued as a result of a
sold at foreclosure and does not bring deficiency judgement
enough money to satisfy all of the
debts secured by the property?
When foreclosure occurs, the Date of recordation
payment priority of most of the
outstanding debts is established by:
With a traditional, fully amortized loan, the month prior to the month the payment is made
the interest portion of a payment due
and made on the first day of a month
covers the interest for:
What type of loan has payments of Straight loan
interest only with the principal paid in
full at the end of the loan period?
If a loan balance is $125,000 and the $833.33
interest rate is 8%, how much of the
next payment is paid in interest?
In a graduated payment mortgage, Payment, interest rate
the ________ changes in an adjustable
rate mortgage the _______ is subject to
change.
, What clause allows the lender to call Acceleration clause
the loan balance due and payable
because of non-payment?
The amendment that allows a lender Subordination amendment
to waive his lien priority in favor of
another's is known as the:
A purchase money mortgage is a loan The seller in a transaction
made by:
A mortgage secured by both real and Package Mortgage
personal property is a(n):
What type of mortgage exists when Reverse Annuity (mortgage)
the lender pays the borrower a fixed
amount of money every money?
The primary purpose of FHA is to _____ Insure loans; guarantee loans
and the primary purpose of VA is to
________.
In a Land Sales Contract, who retains Seller
legal title to the property?
What Act has as its primary purpose to Real Estate Settlement Procedures Act (RESPA)
educate borrowers regarding the
costs involved in a closing so that the
borrowers can shop for the best
situation for them?
Which of the following is true The payment includes payment of interest for the
regarding a borrower's mortgage previous 30 days
payment assuming the payment is
made on time?
Professional appraisals for lenders are help the lender decided whether to make a loan
usually made in order to:
With Step By Step Solutions
Save Groups
Terms in this set (77)
What is the tax assessment rate for all 40%
real property in Georgia?
What could happen if a property is Outstanding debts could be pursued as a result of a
sold at foreclosure and does not bring deficiency judgement
enough money to satisfy all of the
debts secured by the property?
When foreclosure occurs, the Date of recordation
payment priority of most of the
outstanding debts is established by:
With a traditional, fully amortized loan, the month prior to the month the payment is made
the interest portion of a payment due
and made on the first day of a month
covers the interest for:
What type of loan has payments of Straight loan
interest only with the principal paid in
full at the end of the loan period?
If a loan balance is $125,000 and the $833.33
interest rate is 8%, how much of the
next payment is paid in interest?
In a graduated payment mortgage, Payment, interest rate
the ________ changes in an adjustable
rate mortgage the _______ is subject to
change.
, What clause allows the lender to call Acceleration clause
the loan balance due and payable
because of non-payment?
The amendment that allows a lender Subordination amendment
to waive his lien priority in favor of
another's is known as the:
A purchase money mortgage is a loan The seller in a transaction
made by:
A mortgage secured by both real and Package Mortgage
personal property is a(n):
What type of mortgage exists when Reverse Annuity (mortgage)
the lender pays the borrower a fixed
amount of money every money?
The primary purpose of FHA is to _____ Insure loans; guarantee loans
and the primary purpose of VA is to
________.
In a Land Sales Contract, who retains Seller
legal title to the property?
What Act has as its primary purpose to Real Estate Settlement Procedures Act (RESPA)
educate borrowers regarding the
costs involved in a closing so that the
borrowers can shop for the best
situation for them?
Which of the following is true The payment includes payment of interest for the
regarding a borrower's mortgage previous 30 days
payment assuming the payment is
made on time?
Professional appraisals for lenders are help the lender decided whether to make a loan
usually made in order to:
