Hud counseling Study guides, Study notes & Summaries

A Counseling Agency's failure to follow all basic requirements required by HUD could result in which of the following: A. Termination of agency's HUD approval B. Suspension of agency's HUD approval C. Forfeiture of remaining federal grant funds D. Fines and or imprisonment E. a , b , and c F. all of the above CORRECT ANSWER E. Termination of agency's HUD approval Suspension of agency's HUD approval Forfeiture of remaining federal grant funds

HUD Housing Counseling Exam Questions And Complete Answers |100% Pass

HUD Housing Counseling Exam

The HECM Saver was introduced as an option to lower the upfront cost of a HECM by reducing the upfront mortgage insurance premium to: a. 0. b. 0.01% of the Maximum Claim Amount. c. 1% of the Maximum Claim Amount. d. 1.25% of the Maximum Claim Amount. - ANSWER-b If repairs are required but can be completed after closing, the lender will create a repair set-aside in the amount of: a. 15% of the maximum claim amount. b. 100% of the actual cost of repairs. c. 100% of the estimated cost of...

HUD Counseling Exam - Module 5 Avoiding Foreclosure SOLUTIONS 100% PASS what is a servicer? - ANSWER a company that handles all the administrative aspects of a loan from the closing to mortgage payoff, including handling all payments, escrow, and all documentation for records when was the most recent foreclosure crisis? - ANSWER 2007 what caused the most recent foreclosure process? - ANSWER 1. negative amortization 2. aggressive marketing of HELOC loans 3. subprime lending 4. q...

what is a servicer? - ANSWER a company that handles all the administrative aspects of a loan from the closing to mortgage payoff, including handling all payments, escrow, and all documentation for records when was the most recent foreclosure crisis? - ANSWER 2007 what caused the most recent foreclosure process? - ANSWER 1. negative amortization 2. aggressive marketing of HELOC loans 3. subprime lending 4. qualifying borrowers based on teaser rates 5. qualifying borrowers based on introdu...

HUD Housing Counseling Exam Questions and Answers (Graded A) HUD Housing Counseling Exam Questions and Answers (Graded A) HUD Housing Counseling Exam Questions and Answers (Graded A) 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-Pr...

HUD Housing Counseling Exam Questions and Answers (Graded A)HUD Housing Counseling Exam Questions and Answers (Graded A)HUD Housing Counseling Exam Questions and Answers (Graded A) Civil Rights Act of 1866 - ANSWER-Federal law granting citizenship to former slaves; passed over Johnson's veto. (Race and Color) Fair Housing Act of 1968 - ANSWER-banned discrimination in the rental or sale of housing (Race, color, religion, national origin) Housing and Community Development Act of 1974 ...