A mortgage loan may be insured by:
A: VA;
B: FHA or a private mortgage insurer;
C: FNMA;
D: The beneficiary.
Answer: B: FHA or a private mortgage insurer;
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Which of the following contracts would be required under the statute of frauds to be in writing?
A. Any agreement that is not to be performed within one year B. Employment of a broker to negotiate a six-month lease on manufacturing equipment Incorrect C. Employment of a broker to purchase a real estate mortgage D. Employment of a broker to sell trade fixtures and business goodwil
Cameron owns a 30-unit apartment building next to a loud night club. Cameron loses $400 net income per month because of the loud noise. Many appraisers suggest using a 12% capitalization rate for this type of property in that neighborhood. Cameron's property suffers a loss in value of approximately:
A: $4,800; B: $48,000; C: $40,000; D: $2,400.