HECM TEST ACTUAL EXAM WITH 100% VERIFIED QUESTIONS AND CORRECT SOLUTIONS| GUARANTEED VALUE PACK| ACE YOUR GRADES

What are the names of the 2 HUD Booklets that each client must receive before
completing a counseling session?


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Preparing for Your Counseling Session
Use Your Home to Stay at Home - A Guide for Homeowners Who Need
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, A Counseling Agency's failure to follow all basic requirements required by HUD could
result in which of the following:
A. Termination of agency's HUD approval
B. Suspension of agency's HUD approval
C. Forfeiture of remaining federal grant funds
D. Fines and or imprisonment
E. a , b , and c
F. all of the above


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E.

Termination of agency's HUD approval
Suspension of agency's HUD approval
Forfeiture of remaining federal grant funds




Y/N Before closing on his HECM loan, Mr. Dump had make many repairs to his home.
Will a Repair Rider be attached to his Loan Agreement at closing?


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No




Each counseling session must include discussion on all of the following EXCEPT:
A. Basic Requirements to the Reverse Mortgage
B. Alternatives to the Reverse Mortgage
C. Fees and costs associated with the Reverse Mortgage
D. Title retention
E. All of the above