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The conditions of an escrow agreement cannot be met and the related transaction cannot be completed. In such a case, the escrow agent
To avoid violating the Real Estate Settlement Procedures Act, parties who are providing services to the buyer or seller in a transaction must
A certain item is to be prorated between a buyer and seller. If no outside party is concerned, which of the following statements is true?
An item is said to be paid in arrears if it is normally paid
A certain item is to be prorated between a buyer and seller. If no outside party is concerned, which of the following statements is true?
A seller received a rental payment of $900 in advance. At closing, the seller has earned only $320 of this rent. What should appear on the closing statement?
A buyer will receive a water bill for an estimated $100 at the end of the month. At closing, the seller has used an estimated $43 in water. What should appear on the closing statement?
Which of the following does the RESPA Act establish ?
Choose the term that best fits the definition: All escrow account deposits and payments during the servicer’s computation year
Which of the following is one of the requirements that lenders are required to meet within the first three days of receiving a mortgage loan application?
According to RESPA, what does a Consumer Financial Protection Bureau booklet describe?
According to RESPA, What is a Mortgage Servicing Disclosure Statement?
What Does RESPA stand for?
The new RESPA rule is
The HUD-1 Settlement Statement is a form
The RESPA act establishes
RESPA is an acronym for
What is the New RESPA Rule
Which defines what the HUD-1 Settlement Statement
Two parties enter into a contract for deed agreement. In this form of agreement
Which answer best describes a true contract for a deed transaction
Several buyers are competing for the last available home in a desirable new subdivision. One buyer calls the owner-developer directly on the phone and offers $20,000 over and above the listed price. The developer accepts the offer. At this point,
An owner completes a sales contract on her property with a buyer. Before closing, the seller runs into financial trouble and assigns the contract to her principal creditor. The buyer cries foul, fearing the property will be lost. Which of the following is true?
A due-on-sale clause in a sale contract puts parties on notice that
A tenant has an option-to-purchase agreement with the landlord that expires on June 30. On July 1, the tenant frantically calls the landlord to exercise the option, offering the apology that she was busy with a death in the family. Which of the following is true?