GA REAL ESTATE FINANCE EXAM REVIEW QUESTIONS AND ANSWERS, RATED A+/| latest update 2024/25|

GA REAL ESTATE FINANCE EXAM REVIEW QUESTIONS AND ANSWERS, RATED A+/ real estate loans are customarily evidenced by 2 instruments: a promissory note and a security instrument. while the security instrument isnt negotiable the note is, because... - -the right to receive payments may be transferred from holder to holder a straight loan is characterized by: - -interest only payments until the end of term when principal is due in a lump sum which organizations insures mortgage loans? - -Federal Housing Administration, and Mortgage Guaranty Insurance Company bill obtained a VA loan to purchase a home. 2 years later he sold his home via loan assumption to a nonveteran buyer. the following statement is correct... - -bill remains liable for payments unless released by the VA and the lender the federal Truth In Lending Act applies to the following transaction: - -the purchase of an $80,000 home with a new first mortgage loan given the same term, interest rate, and loan amount then... - -a straight loan will cost more to repay than an amortized loan. Jane borrows $110,000 to be amortized over 30 years. Her monthly payments were to be made under a constant mortgage plan. this means: - -each payment is a constant amount with increasing portions applied to principal and decreasing portions applied to interest with each payment a 3 party instrument which transfers title to the 3rd party as security for the debt owed by the 1st party to the 2nd party is known as: - -A Trust Deed the person who sign s a mortgage note is the... - -make