STATE (Nebraska) Real Estate Practice Exam 1

STATE (Nebraska) Real Estate Practice Exam 1 Restrictive Covenants - prohibit all future owners from certain actions or modifications of their property and placed by private parties, consistency and desirability of a neighborhood Closing Disclosure, a statement of actual charges and adjustments, to the borrower by the lender - The TRID form, TILA-RESPA escrow accounts that accumulate funds from closing costs and monthly payments to ensure that property taxes and homeowner's insurance are kept current are called what? - impound accounts Options are generally concerned with only two things: - time and price When can a landlord evict a disabled blind or disabled tenant from the premises? If the tenant has... - loud parties, makes too much noise, and is consistently disturbing other tenants When does a listing contract expire? At... - At closing (upon expiration of the contract date) mortgage broker arranges... - arranges loans between borrowers and investors One discount point from federal VA or FHA loan is - 1% of the loan amount An increase in the availability of money would increase or decrease interest rates? - decrease What does amortization mean? To... - reduce or pay off (a debt) with regular payments.