A financial product which provides senior citizens with funds against their home equity is referred as _______ A. Mortgage B. Reverse Mortgage C. Repossession D. Refinance

A financial product which provides senior citizens with funds against their home equity is referred as _______ A. Mortgage B. Reverse Mortgage C. Repossession D. Refinance
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B. Reverse Mortgage Explanation: A reverse mortgage or home equity conversion mortgage (HECM) is a special type of home loan for older home owners (62 years or older) that requires no monthly mortgage payments. Borrowers are still responsible for property taxes and home owner‘s insurance.
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A legal agreement between the lender and borrower where real estate property is used as a collateral for the loan is termed as ________ A. Mortgage B. Reverse Mortgage C. Repossession D. Refinance

Description : A legal agreement between the lender and borrower where real estate property is used as a collateral for the loan is termed as ________ A. Mortgage B. Reverse Mortgage C. Repossession D. Refinance

Last Answer : A. Mortgage Explanation: A loan that is secured by property or real estate is called a mortgage. In exchange for funds received by the homebuyer to buy property or a home, a lender gets the promise of that buyer to pay back the funds within a certain time frame for a certain cost.

Reverse mortgage senior citizens?

Description : Reverse mortgage senior citizens?

Last Answer : A reverse mortgage is an additional loan taken out against the equity already paid into your home. To qualify for a reverse mortgage you must be aged 62 to older and occupy the home as your primary residence.

A type of market in which there is a relatively high degree of concentration is referred as _____ A. Mortgage Refinance B. Oligopoly C. Near Money D. Open Economy

Description : A type of market in which there is a relatively high degree of concentration is referred as _____ A. Mortgage Refinance B. Oligopoly C. Near Money D. Open Economy

Last Answer : B. Oligopoly Explanation: Large number of potential buyers but only a few sellers is known as Oligopoly.

Can I refinance my mortgage if I have low equity in my house?

Description : Can I refinance my mortgage if I have low equity in my house?

Last Answer : Yes it is possible to refinance your house if you have low equity. But you must have at least 20 percent equity before your refinance will be apporoved.

__________ is a transfer of property to its real owner, once the loan or mortgage is paid off. A. Reconveyance B. Repossession C. Recurring Billing D. Revalidation

Description : __________ is a transfer of property to its real owner, once the loan or mortgage is paid off. A. Reconveyance B. Repossession C. Recurring Billing D. Revalidation

Last Answer : A. Reconveyance Explanation: The transfer of real property that takes place when a mortgage is fully paid off and the land is returned to the owner free from the former debt.

what type of grant would help to pay off about $35,000 mortgage loan for senior citizens?

Description : what type of grant would help to pay off about $35,000 mortgage loan for senior citizens?

Last Answer : what type of grant would help to pay off a mortgage of about $35,000 loan for senioir citizens?

According to the Income Tax act of 1961, the age of Super senior Citizens should be _______ A. 60 years B. 70 years C. 80 years D. 75 years E. 65 years

Description : According to the Income Tax act of 1961, the age of Super senior Citizens should be _______ A. 60 years B. 70 years C. 80 years D. 75 years E. 65 years

Last Answer : C. 80 years Explanation: According to the Income Tax act of 1961, the age of Super senior Citizens is 80 years.

Now that the Fed has lowered interest rates another quarter point is it time to refinance our home mortgage?

Description : Now that the Fed has lowered interest rates another quarter point is it time to refinance our home mortgage?

Last Answer : It depends what rate and term you have now. Add in closing cost to what you owe and do an amoritization. Then compare it to where you are at now.

At what point is it beneficial to refinance a home mortgage?

Description : At what point is it beneficial to refinance a home mortgage?

Last Answer : If the mortgage rates have gone down you may want to refinance your home. Also you may want to if you have 20% or more in equity or have an adjustable rate mortgage.

Every person should refinance their mortgage after five years.?

Description : Every person should refinance their mortgage after five years.?

Last Answer : Every person should refinance their mortgage after five years.

Can I refinance my mortgage with a different bank, different than the one I currently have it with?

Description : Can I refinance my mortgage with a different bank, different than the one I currently have it with?

Last Answer : Yes, you can refinance with a different bank if you meet their requirements. I’ve never heard of anyone having special stipulations saying they couldn’t do so.

How to refinance a mortgage?

Description : How to refinance a mortgage?

Last Answer : Not a direct answer, but a related topic was recently discussed.

How do you refinance mortgage w/ bad credit now after finances change do to lost of job 2 years ago. found knew job about 3 month after but pays less.Asked about modification w/mortgage company said they don't participate. ?

Description : How do you refinance mortgage w/ bad credit now after finances change do to lost of job 2 years ago. found knew job about 3 month after but pays less.Asked about modification w/mortgage company said they don't participate. ?

Last Answer : Just because your mortgage company say they don't refinance does not mean you should stop. Make a list of the places that do participate and apply there to see if you can get the help you need.

When does it make sense to try to refinance to get better mortgage rates?

Description : When does it make sense to try to refinance to get better mortgage rates?

Last Answer : People refinance to get a better rate. Even one percent can make the difference in thousands and thousands of dollars of interest over the life of the mortgage, depending on how much was borrowed, how much is ... the cost. It always makes sense to re-fi IF it will save money in the long run.

If I file for bankruptcy can I still refinance my mortgage?

Description : If I file for bankruptcy can I still refinance my mortgage?

Last Answer : You would probably be better off refinancing your mortgage first and then applying for bankruptcy later on. My mom had to file for bankruptcy due to credit card debt she could not pay.

What should I know about bankruptcy and mortgage refinance?

Description : What should I know about bankruptcy and mortgage refinance?

Last Answer : You can refinance your mortgage, even after a bankruptcy. Refinancing can even help restore your good credit in about two years! Sit down with your lender and talk about a refinancing plan.

Are Quicken Loans mortgage refinance rates better than most current refinance rates?

Description : Are Quicken Loans mortgage refinance rates better than most current refinance rates?

Last Answer : Quicken Loans does offer competitive refinancing on mortgage rates. There may be companies with lower rates, however, so you should investigate other lenders.

Do mortgage refinance calculators take points into consideration?

Description : Do mortgage refinance calculators take points into consideration?

Last Answer : Yes they do. The good mortgage calculators take everything that may effect you mortgage into account. You have nothing to worry about.

What is the meaning of "refinance mortgage"?

Description : What is the meaning of "refinance mortgage"?

Last Answer : Basically, refinance mortgage is a restructure of your current mortgage. You can shorten the length of your loan, you can get a lower interest rate and lower your payments. In some cases you can cash-out the equity and actually get cash back at the closing of the refinance mortgage.

How to Refinance a Mortgage?

Description : How to Refinance a Mortgage?

Last Answer : Refinancing a mortgage is an important step that requires consideration, research and patience. There are nearly as many loan modification scams as there are legitimate lenders today. Keep reading to learn ... 's information. Don't sign the loan documents until all of these steps are finished.

How can I fight against Repossession?

Description : How can I fight against Repossession?

Last Answer : The best way to fight repossession is to pay your bills on time. If you can't do that call your creditors and see if you can work something out. The sooner you call the better chance you have of keeping your stuff.

What help can financial help can senior citizens recieve?

Description : What help can financial help can senior citizens recieve?

Last Answer : Handicap stickers, Disability, and Social Security are available if the senior citizen is able to qualify. Health and income will be factors in determination.

Micro Units Development and Refinance Agency(MUDRA) Bank has been headquartered in _______ A. Mumbai B. Bangalore C. New Delhi D. Hyderabad

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Last Answer : C. New Delhi Explanation: Micro Units Development and Refinance Agency Bank (or MUDRA Bank) is a public sector financial institution has been headquartered in New Delhi. It provides loans at ... institutions which then provide credit to MSMEs. It was launched by Prime Minister Narendra Modi.

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Last Answer : (a) Rs. 75,000/-

. If debt equity ratio is 3:1; the amount of total assets are Rs.20 lakh; current ratio is 1.5:1 and owned funds are Rs.3 lakh. What is the amount of current assets? a) Rs.5 lakh b) Rs.3 lakh c) Rs.12 lakh d) Rs.15 lakh

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-------------------means transfer of economic value of firm from one asset or equity to another. a) Flow of funds b) Uses of fund c) Inflow of funds d) Application of funds

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Description : ________ are financial markets for the buying and selling of long-term debt or equity-backed securities. A. Bullion Market B. Capital Market C. Money Market D. All of the Above E. None of the Above

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Which of the following can be provided by small finance banks A. Mutual Funds B. Insurance Products C. Third Party financial products D. All of the Above E. None of the Above

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A fund that tracks an index but can be traded like a stock is known as _______ A. Exchange Traded Funds(ETF) B. Mutual Funds C. Energy Funds D. Investment Fund E. None of the Above

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How many payments must you miss before there is a repossession?

Description : How many payments must you miss before there is a repossession?

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How long does the repossession process of a car usually take?

Description : How long does the repossession process of a car usually take?

Last Answer : The repossession process of a car usually takes about 6 months

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Last Answer : (4) All of the above

are there funds available for senior church activities ?

Description : are there funds available for senior church activities ?

Last Answer : Check Out These Delaware Preschools, Child Care Centers, Kindergartens, Nursery Schools, Summer Day Camps for your toddler or preschool child! check the link http://www.maxexchange.com/day_care_centers/delawarechilddaycarepreschools.htm

A charge where there is neither the transfer of ownership nor the possession is called _______ A. Pledge B. Hypothecation C. Mortgage D. Lien E. None of the Above

Description : A charge where there is neither the transfer of ownership nor the possession is called _______ A. Pledge B. Hypothecation C. Mortgage D. Lien E. None of the Above

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Should senior citizens have to retake the test to get their drivers license?

Description : Should senior citizens have to retake the test to get their drivers license?

Last Answer : absolutely. I LOVE elderly people. But the truth is, things start to go and it’s not safe for some to drive anymore.

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Description : Cost and services a senior nursing home provides?

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They are nefarious hackers, and their main motive is to gain financial profit by doing cyber crimes. Who are “they” referred to here? a) Gray Hat Hackers b) White Hat Hackers c) Hactivists d) Black Hat Hackers

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In case of valuation of firms for takeovers, which of the following provides a better estimate of value? a) Cash flows b) Free cash flows c) Future cash flows d) Free cash flow to equity

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Last Answer : To help members of the organization to effectively discharge their responsibilities.

What is the difference between a reverse mortgage and a standard mortgage?

Description : What is the difference between a reverse mortgage and a standard mortgage?

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Once denied a reverse mortgage, can you apply again through another bank?

Description : Once denied a reverse mortgage, can you apply again through another bank?

Last Answer : I don’t see why not. Each bank makes their own decision on weather to lend or not. That doen’t mean they’ll make a different decision though.