Florida Real Estate Exam 99 Questions And Answers
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Terms in this set
99
Appreciation
An increase in the value of a property
when ownership of a mortgage is transferred from one company or individual to another
an assignment
A mortgage loan which requires the remaining balance be paid at a specific point in time is called
A balloon mortgage
Reasons accounts for why bridge loans are not used much anymore
More second mortgage lenders now ill lend at a high loan to value
Sellers would rather accept offers from buyers who have already sold their property
Sellers would rather accept offers from buyers who have already sold their property
A title which is free of liens or legal questions as to ownership of the property is called a
Clear title
what is the collateral in a home loan?
The property itself
the adjustment date on an adjustable rate mortgage is
the date the interest rate changes
what is the deposit made by a potential buyer to show he is serious about buying a house called
Earnest money deposit
Aright of way with gives persons other than the owner access to or over a property is called
An Easement
A housing development created by dividing a tract of land into individual lots
subdivision