1. When you pay a bill in full, you are _____. (1 point) paying it off defaulting maximizing profit zeroing 2. APR stands for _____. (1 point) annual partial rate amortized percentage rate annual percentage rate amortized partial rate 3. When calculating interest accrued, you should ____. (1 point) multiply the principal by the APR multiply the principal by the APR and number of months multiply the principal by the APR and number of months, then divide by the total number of months in the year multiply the principal by the APR and the number of months in the year, then divide by the number of months earning interest 4. _____ are used to take money directly from your account. (1 point) Charge cards Debit cards Credit cards Cash cards 5. A pack of gum would be considered a(n) _____. (1 point) luxury item small ticket item unaccountable expense necessity 6. Interest rates on used cars are usually ____ when compared to new cars. (1 point) higher lower the same depending on the used car 7. Interest rates on mortgages are lower because the home is _____. (1 point) used secured collateral stable Note: The question below was entered in error. You will receive credit for ANY answer. 8. You have two credit cards. Both have a balance of ,356.00 with one having an interest rate of 6.25% APR and the other a rate of 9.25% APR. What is the difference in the accrued interest after 2 months if you do not pay anything toward the principal? (1 point) .68 .25 .45 .60 9. You have a mortgage of 5,600.00 at a 4.95% APR. You make a payment of ,500.00 each month. What is your principal balance at the beginning of the third month? (1 point) 2,600.00 3,632.15 3,636.20 2,654.30 Note: The question below was entered in error. You will receive credit for ANY answer.
10. You are purchasing a TV for 5.00 plus 5% sales tax. Your credit card rewards program pays 1% cash back and the debit card rewards program pays 5% cash back. The credit card has a 12.25% APR. How much is your savings if you purchase the TV with your credit card? (1 point) .85 .34 .25 .74
Veteran Realtors and Las Vegas top consumer advocates for Vegas home owners and home buyers, Kendall Trotter and Steve Hawks continue their discussion about new home builder fraud.The fraudulently inflated new homes caused values to rise beyond what they should have been in the free market with add ones like cars and cash back. This unknown cash back also caused the resale market to sky rocket beyond what it should have done since many of the resales pricing was attributed to the cost of a new home. It also caused the unsuspecting home buyer to over pay based on the fraudulent cash back prices of some new homes. It also has caused consumers to doubt what the real value is.This is not a problem for current buyers and sellers though. Kendall Trotter,Steve Hawks and The Las Vegas Real Estate Update will clear up all your doubts with the real facts and the real market value.
In other words, is the mortgage starting the day of closing or does builder usually want money up front? Also, if the lot is paid for, can we use that money as equity on house. Trying to get to 80% loan to value on home.
Builders begin to RENT?!? model homes….WTH?!?! inflation.us To Support this Channel? VISIT inflation.us inflation.us inflation.us inflation.us inflation.us and sign up for MY FREE newsletter!!! G4T Website! g4t-forums.com g4t-forums.com g4t-forums.com To Support G4T www.paypal.com george4title(AT)yahoo.com
Jul 15, 2010 — Home builder stocks are down across the board even though a new federal report showed that 30-year fixed-rate mortgage rates remain at A record low for the second consecutive week. “”Fixed-rate mortgages continued to hover at 50-year lows, thereby supporting home buyer affordability and refinance activity,”" said Frank Nothaft, vice president and chief economist of Freddie Mac, in a statement. Freddie Mac’s report on conforming mortgage rates showed 30-year mortgages averaged 4.57% for the week ending July 15, unchanged from last week. The 15-year fixed-rate mortgage averaged 4.06%, down from last week’s 4.07%. Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.85%, up from 3.75% last week. The Philadelphia Housing Sector Index is down 1.88%, and builders such as Beazer Homes USA Inc. (BZH), down 2.88%, Brookfield Homes Corp. (BHS), down 3.03% and NVR Inc. (NVR), down 2.95% are leading the sector lower.
