Blanket mortgage Study guides, Class notes & Summaries

Champions Real Estate Finance Questions & Revised Correct Answers <Updated < Already Passed> Loan-to-Value Ratio (LTV)- : The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage- : Includes both real and personal property ( fixtures and furnishings) Blanket Mortg...

National Real Estate Exam Questions and Answers Already Graded A Which of the following constitute an estate (tenancy) for years? A month-to-month lease. A tenancy at sufferance. A lease that is set to last six months. A tenancy at will. 67. A federal law that regulates t 1. Which method of legal description uses point of beginning, direction and distance? Metes and bounds. Lot and block. Government rectangular survey. Recorded plat. Metes and bounds. A borrower's right to sto...

Champions Real Estate Finance Latest Version Graded A+ Loan-to-Value Ratio (LTV) The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage Covers more than one piece of property. Wraparound ...

Which of the following is NOT a specific lien? a. an unrecorded mortgage b. a mechanic's lien c. a judgement lien d. a blanket mortgage - c. a judgement lien Which of the following is NOT an encumbrance on real property? a. lease b. easement c. homestead right d. restrictive convenant - c. homestead right Which of the following is NOT an appurtenance? a. easement right b. mineral right c. water rights d. trade fixtures - d. trade fixtures

Champions real estate finance Exam Questions with Verified Answers Loan-to-Value Ratio (LTV) ANS-The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage ANS-Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage ANS-Covers more than one piece of propert...

The final decision on the listing price for a property is made by the a) listing broker b) sponsoring broker c) seller d) appraiser - c) seller A rectangular parcel of land is 260 feet deep and 50 yards wide. How many square feet does it contain? a) 13,000 sq. ft. b) 36,400 sq. ft. c) 39,000 sq. ft. d) 52,000 sq. ft. - c) 39,000 sq. ft. A fee simple holder of a parcel of real estate grants a life estate to his son and stipulates that upon the son's death the property will pass to ...

Champion Real Estate Financing 2023 Exam Questions and Answers Hard Money Loan - ANSWER Real estate loans made by private lenders funded in cash, great for "flippers" Blanket Mortgage - ANSWER mortgage covering more than one parcel of real estate Package Mortgage - ANSWER Mortgage covering both real and personal property Budget Mortgage - ANSWER A mortgage with payment that covers principal and interest, plus taxes, fire insurance, lease rent, etc...

Two friends hold title as joint tenants. One borrowed money and executed a deed of trust against the property. In terms of affecting title this action could: - Place the beneficiary in a precarious position should the borrower die before the debt is paid. Joint tenant estate held by two joint tenants is severed and ended by the following: - A foreclosure by one of the joint tenants. One of the joint tenants transfers his interest to a third party. One of the joint tenants sell his interest....

Gold Coast Real Estate Sales Associate Chapter 13Correct answer: b Savings associations dominated the residential mortgage market until deregulation of the banking industry in the 1980s. In the past, these institutions made most of their mortgage loans with depositors' funds. The loans were held full term, with the savings association receiving the principal and interest payments from the borrower. Reference: Chapter 13, The Primary Mortgage Market, Mortgage Lenders, Savings Associations -...

Arizona Real Estate State Exam Questions and Answers 100% Pass Which of the following is NOT a specific lien? a. an unrecorded mortgage b. a mechanic's lien c. a judgement lien d. a blanket mortgage c. a judgement lien Which of the following is NOT an encumbrance on real property? a. lease b. easement c. homestead right d. restrictive convenant c. homestead right Which of the following is NOT an appurtenance? a. easement right b. mineral right c. water rights d. trade fixtures d. t...