Which Of The Following Is A Standard Loan Condition?
HOME FINANCING GLOSSARY. Condition in a mortgage that gives the lender the right to require immediate repayment of the loan balance if regular mortgage payments are not made or for breach of other conditions of the mortgage.. A formal offer by a lender to make a loan under certain terms or conditions to a borrower.
Standard Clause. Entitled Mortgageholders, this clause is located in the policy conditions. It outlines the obligations the insurer must fulfill if mortgaged property is damaged or destroyed. This clause is considered a standard mortgage clause because it affords protections to lenders.
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A loan condition is something additional that lenders will require from time to time of their potential borrowers. Here are the basics of a loan condition and how it works. Loan Condition Before a loan can be approved, it is going to have to go through an underwriting process.
Scott is seeking a loan from his bank for a home improvement project. He receives the loan and then decides to take a special vacation opportunity to Las Vegas and enter a gambling tournament. The bank, as a financial intermediary, is facing a problem of
In a vile blog post, the payday lender called for the return of horrendous debtors prisons, which were abolished in 1869 due to their inhumane, workhouse conditions. a payday loan to be affordable,
The Bureau of Consumer Financial Protection (Bureau) is amending Regulation Z, which implements the Truth in Lending Act (TILA). Regulation Z generally prohibits a creditor from making a mortgage loan unless the creditor determines that the consumer will have the ability to repay the loan. The.
5) Which of the following is one of the purposes of the Lawyers’ Fund? a) To protect lawyers who are sued by clients b) To compel real estate companies to use standard forms c) To reimburse clients for money that was misused by their attorney d) To prevent licensees from preparing real estate contracts
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7) A prospective homebuyer submits a signed offer to buy a house with the condition that the seller pays financing points at closing. The seller disagrees, crosses out the points clause, then signs and returns the document to the buyer. At this point, assuming all other contract validity items are in order, what is the status of the offer?
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