- Study guides, Class notes & Summaries

Rental Obstacle + Solutions: Low Income - ANSWER-Some Renters reject people whose Rent would be more than 30% of GMI -Solutions -Apply for Housing Assistance -Expand housing search areas -Get a roommate -Move in w/family or friends Strategies for decreasing expenses and debt - ANSWERPrioritize "needs over "wants" -reduce or eliminate "wants" -cancel or downgrade services(e.g. cable, telephone) -limit miscellaneous spending - stick to a shopping list - pay off a loan ...

Civil Rights Act of 1866 - ANSWERFederal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 - ANSWERbanned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 - ANSWERadded gender (sex) to the protected classes Fair Housing Amendments Act of 1988 - ANSWERAdded Disability and familial status to protected classes. Real Estate Settlement and...

HUD Housing Counseling Exam/ 357 Quizzes & Correct Ans. Type of credit used - Answer: Positive: Different types of credit show variety - demonstrates that consumers can manage different types of credit Negative: Fever types show limited profile info - higher risk Length of credit history - Answer: -How long a person has bad credit Positive: Longer credit history provides more info for lenders - lower risk Negative- shorter history provides little to no info for lenders - higher risk ...

HUD Housing Counseling Exam/ 357 Quizzes & Correct Ans. Steps in creating a budget - Answer: 1. Help client identify short + long-term goals 2. Track income 3. Track expenses 4. Adjust goals + budget *increase income *decrease expenses + debt %. 5. Create client action plan Section of Credit Report: Public Records - Answer: Items that are listed in the public record, including -bankruptcy - judgments -tax liens - wage garnishments Section of Credit Report: Personal information -...

HUD Housing Counseling Exam/ 357 Quizzes & Correct Ans. Rental Obstacle + Solutions: Low Income - Answer: -Some Renters reject people whose Rent would be more than 30% of GMI -Solutions -Apply for Housing Assistance -Expand housing search areas -Get a roommate -Move in w/family or friends Strategies for decreasing expenses and debt - Answer: Prioritize "needs over "wants" -reduce or eliminate "wants" -cancel or downgrade services(e.g. cable, telephone) -limit misce...

HUD Housing Counseling Exam/ 251 Q&A/ A+ Score Solution Steps to create an Action Plan - Answer: - State goal - Identify obstacles - Agree on livable budget - Steps with dates to achieve goal - List who is responsible for steps - Signature (optional) - follow up and update Which of the following is not needed in determining a budget? - Pay stubs - Credit report - Utility bill - Child support - Stock dividends - Answer: Credit report Stock dividends Tran would like to take ...