Sale of real estate property in which the proceeds are less than the balance owed on loan secured by property sold.
Answer(s): B
Real estate commissions generally range for new homes and for previously occupied homes or resales. It may be possible to negotiate a lower decision with your broker or to find or one who charges a flat fee.
Answer(s): A
It is the process of arranging with a mortgage lender, in advance of buying a home, to obtain the amount of mortgage financing the lender deems affordable to home buyer.
Prequalification provides estimates of required down payment and closing costs of different types of mortgages. It identifies in advance any problems such as:
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