Question
1. List all items that must be disclosed in the truth in lending disclosure. 2. Why should a real estate investor (rental real estate) borrow
1. List all items that must be disclosed in the truth in lending disclosure.
2. Why should a real estate investor (rental real estate) borrow a significant amount of money to purchase the property, rather than use a large down payment?
3. Property secured by a mortgage will not be protected in bankruptcy. What does this mean?
4. Research convertible mortgage loan and explain how they work.
5. Research "recourse clause" and explain how it works.
6. Research "acceleration clause" and explain how it works.
7. What are you risking with a home equity loan, home equity line of credit, or a 2nd mortgage?
8. Explain how to avoid purchasing GAP insurance while still mitigating the risk that you are trying to protect. This will require some research.
9. With regard to debt, "every liability on your personal balance sheet should be matched with an asset" explain what this phrase in quotes means.
10. Define and explain the 28/36 rule.
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