A home equity loan can be risky because the lender can foreclose if you don’t make your payment.
A home equity loan can be risky because the lender can foreclose if you don’t make your payment.TRUE or FALSE.
Homework Answers
True
Explanation: Foreclosure refers to the process in which lender sold the asset of the borrower held by the lender as a collateral security, because borrower is unable to pay the installments to the lender. If a borrower doesn't pay the equity loan installment, then the house can be foreclosed by the lender, which is risky.
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A home equity loan can be risky because the lender can foreclose if you don’t make your payment.
One of the advantages of a home equity loan is that you can borrow money any...
One of the advantages of a home equity loan is that you can borrow money any time, up to the approved amount. True or False
Which two of these should you do if your lender rejects your loan application?
Which two of these should you do if your lender rejects your loan application?Ask your home inspector why Ask your lender why File a dispute with the Fair Credit Agency Shop for a different lender or type of mortgage
PART A: Home Equity Loan Home equity credit loans and credit lines have become very popular...
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In a single net lease, the tenant pays base rent plus a pro-rata share of the...
In a single net lease, the tenant pays base rent plus a pro-rata share of the building's property tax and a pro-rata share of utilities and janitorial services. True or False If you mortgage your home and then default on the mortgage loan the lender may be able to foreclose on your home. True or False A gross lease is always preferable to a triple net lease. True or False
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3. Debt is a more risky than equity because a debtholder's claim has priority to an equity holder's cla a. True (b. False
In underwriting a new 30-year, monthly payment mortgage loan at 5% interest for Jackie, the lender requires that Jackie...
In underwriting a new 30-year, monthly payment mortgage loan at 5% interest for Jackie, the lender requires that Jackie meet three ratios to be approved for the loan. First, the payment on her loan plus the monthly cost of homeowner's insurance of $200 plus monthly property taxes of $225 plus monthly home owner association fees of $100 can be no more than 28% of her gross monthly income. Second, the monthly total of the four items above plus her car...
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Suppose that you are considering a conventional, fixed-rate 30-year mortgage loan for $100,000. The lender quotes...
Suppose that you are considering a conventional, fixed-rate 30-year mortgage loan for $100,000. The lender quotes an APR of 4.71%, compounded monthly; mortgage payments would be monthly, beginning one month after the closing on your home purchase. What would be your monthly mortgage payment?
Suppose that you are considering a conventional, fixed-rate 30-year mortgage loan for $100,000. The lender quotes...
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Total Loan amount: The total mortgage loan amount is the amount you borrow after paying your down payment. Here, we assumed that you would pay 20% of the home value (property value) as a down payment. 2. Months: The mortgage payment period is set to 30 ye
Total Loan amount: The total mortgage loan amount is the amount you borrow after paying your down payment. Here, we assumed that you would pay 20% of the home value (property value) as a down payment. 2. Months: The mortgage payment period is set to 30 years. In terms of months, this is equivalent to 30 years multiplied by 12 months. We put our primary basis of payments in terms of months, which is why we need to convert everything...
3. Debt is a more risky than equity because a debtholder's claim has priority to an equity holder's cla a. True (b. False
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