create wealth with real estate 9. What’s an escrow and what is their responsibilities when you are in a transaction 10. Other topics relating to real estate 11. What professional expert are talking about. 12. What’s a trust? 13. What is mortgage insurance? 14. Market conditions & statistics La County riverside & San Bernardino? 15. 5 thing not to do when buying a house. 16. 10 thing to improve the value of your home 17. 5 things you need to do before you buy 18. 10 items
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MORTGAGE A Mortgage is defined as a debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. Mortgages are used by individuals and businesses wishing to make large value purchases of real estate without paying the entire value of the purchase up front. Mortgages are also known as liens against property, or claims on property. It can be further described as the debt instrument giving conditional
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Real Estate Notes for Test 3 Ch. 9 Mortgage Theory & Law Key Terms 1 mortgage 2mortgagor (borrower) 3mortgagee 4trustee 5Deed of Trust title *regular, 2 Lien *Deed of trust, 3 *promissory • release of lien, deed of trust • default • trustee, lender *21 *acceleration *alienation *property taxes *deficiency • 7 2. deed in lieu of foreclosure • deliquent judicial 3rd party trustee Non- Judicial 1. Use trustees 2. less expensive 3. trustee
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Active use of the Internet and participation in social media groups have been recognized as by the US Congress as powerful means of helping people to avoid being victimized by advance fee loan scams and other types of financial fraud. Social media is a powerful force, reaching millions of people. The user-friendly design of the major social networking groups encourages users from all age groups and skill sets to communicate and to share information. That is exactly why social media has attracted
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$3,500. •You have been approved for a 30-year fixed-rate mortgage note at a rate of 5.0%. Calculate the monthly payment for this loan. (It is recommended that you show your calculation.) 8.Using your textbook readings this week as a resource, and based upon your monthly gross income and current additional debt payments, perform the calculations below (it is recommended that you show your calculations). •Your affordable monthly mortgage payment (assume your lender uses a guideline of 33% for monthly
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Memo To: Head Accountant of Tyler Corporation From: xxxx, Assistant Accountant of Tyler Corporation Date: January 15, 2011 Re: Classification of Note Payable on the December 31, 2010 Balance Sheet After checking the Generally Accepted Accounting Principles, I want to explain how to classify the $100,000 note payable on the December 31, 2010 balance sheet. According to Accounting Standard Codification 470-10-45-14, “A short-term obligation shall be excluded from current liabilities if
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HSBC’s Mortgage Lending Decisions and the Big Melt It isn’t often that the American financial system, and its world counterpart, has a near- death experience. The last time was the 1930s. Beginning in 2007 and extending through 2009, American and global financial systems failed, melted down, and were rescued only by concerted central bank interventions in all the major industrial countries. The United States directly invested about 1 trillion dollars in U. S. financial institutions, and guaran-teed
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community and property values. The problem is the Mission now contains home foreclosures and the current market value of homes are tens of thousands of dollars less than what the homeowners owe on their mortgages; the solution to this problem is the current homeowners need to pay their mortgages, work on home improvements, and maintain the neighborhood by keeping up with the facade of their property and follow the Home Owners Association covenants(McLaughlin, 2009). Since 2008 when the housing
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liable for not only the assessment arrearage, but also for interest, late charges, court costs, and attorneys’ fees. In addition, we will record a lien against your property with the _______________ County Clerk and Recorder; we will also notify your mortgage company of your delinquency, and ask the company to call the balance of your loan due for failure to stay current with your assessment fees as required in your promissory note. Interest accrues on your balance at ________ percent per month and
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Volume 1 3L’s Learning Services Business Communications Business Writing in the Mortgage Industry Business Communications Underwriting Training Manual ( 3L’s Training Services 12345 Main Street • Suite 100 Atlanta, GA 30303 Phone 404.555.0167 • Fax 404.555.0168 Table of Contents Introduction 1 Training-at-a-Glance 1 The Writing Process 2 Planning Business Messages 3-9 Defining Your Purpose 3-4 Understanding Your
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