NM Real Estate Practice Exam Questions & 100% Correct Answers | Latest Update | Graded A+

Feet in an acre : 43,560 ft Feet in a Mile : 5,280 ft A Plat : An unofficial map or plan of a parcel of land that's been or will be subdivided to show the boundaries of each created lot Metes and Bounds : Description using compass headings and directions Lot and Block : Land description which provides plat reference Oversees Fannie Mae and Freddie Mac and regulates the Federal Home Loan Bank 2 | P a g e : Federal Housing Finance Agency Market Players purchase loans from primary lenders and package and sell them to investors : Secondary Mortgage Market Mortgage : A legally binding document that creates a lien on a price of property A document wherein the borrower promises to repay funds borrowed : Promissory note Are paid as an interest-only or partially amortized loan with a lump-sum payment that's usually due at the end of the term : Balloon loan