HUD Certification Test with complete solution

Which document is most important when working with a client to develop an initial budget as part of a Client Action Plan? Pay stub Retirement plan statement List of assets Current lease - Answer-Pay stub A client would like purchase a home within one year. The client is motivated to increase household income as a way to save for a down payment and qualify for a loan. Which is the best solution for the client to reach this goal? Find a second job Borrow from retirement fund Sell major assets Find a temporary job through a staffing service - Answer-Find a second job A credit report may contain which information? The number of accounts in collection status A history of payments on an electric bill Income history Criminal record - Answer-The number of accounts in collection status A credit report contains inaccurate information. Which action item should the counselor include in the Client Action Plan? -Attach a letter to mortgage applications explaining the inaccuracies. -Investigate the reasons why the inaccuracies occurred to determine the responsible party. -Include a personal consumer statement on the credit report.-File a dispute with the appropriate credit reporting agency. - Answer-File a dispute with the appropriate credit reporting agency