The advantages of following a strict repayment schedule are
it prevents additional fees from being charged, it prevents some interest rate increases, and it shows that the borrower is responsible
. You as a client, need to maintain a good score in your credit history.
Which type of loan most often involves long-term repayment over 30 years quizlet?
Amortized loans
are usually fixed-interest, long-term loans of 15 to 30 years. At the end of the loan term, the full amount of the principal and all of the interest are totally paid off and the balance is zero. With a fully amortized loan, the borrower has the same payment amount every month.
How do government regulators protect consumers how credit works quizlet?
The government protects
consumers by establishing regulatory agencies that correctly examine all of the products that suppliers produce
. … Balancing Costs and Benefits: At times the costs of regulation can outweigh its benefits.
What is collateral quizlet how credit works?
The property that is pledged to guarantee repayment
is known as security or collateral. It is required sometimes by the creditor because collateral reduces the lenders rest. A credit score is calculated based upon the information given in the credit rating.
What does the value of collateral down payment affect check all that apply?
Only the amount borrowed and repayment schedule
are affected by the value of collateral or down payment. This is so because, the collateral or down payment instantly reduces the amount borrowed from the lender known as the Principle Amount.
Can collateral be used as a down payment?
A: In principle,
any collateral acceptable to the lender could serve as a substitute for a down payment
. … They do not provide the first mortgage lender with additional collateral, but they shift a major part of the risk of the low-down-payment loan to a third party who is paid by the borrower for assuming it.
Can I sell my house if it is collateral?
Yes you can do this
, however there are a lot of logistics that need to be worked out prior to simply selling your home. Also, if the loan payments have been timely forthcoming and the lender agrees to it there may be a possibility you could sell your…
What type of loan most often involves long-term repayment over 30 years?
Which type of loan most often involves long-term repayment over 30 years quizlet?
Amortized loans
are usually fixed-interest, long-term loans of 15 to 30 years. At the end of the loan term, the full amount of the principal and all of the interest are totally paid off and the balance is zero.
Which type of loan most often involves long-term repayment over 30?
which type of loan most often involves long-term repayment over 30 years?
existing mortgage on your such
as when the considering an ARM. The costs is up to interest rates may be to be approved for a document most often do so.
Which type of loan Most involves long-term repayment over 30 years?
which type of loan most often involves long-term repayment over 30 years?
existing mortgage on your
such as when the considering an ARM. The costs is up to interest rates may be to be approved for a document most often do so.
What does the government do to protect workers quizlet?
The federal government safeguards the interests of workers through the Department of Labor. One of DOL's primary aims is to
protect workers' economic rights
. It does this by making sure workers get the wages due to them, fostering workplaces that are free of discrimination, and providing unemployment insurance.
How does government regulation change a market?
The Securities and Exchange Commission (SEC) regulates the securities markets and is tasked with protecting investors against
mismanagement
and fraud. Ideally, these types of regulations also encourage more investment and help protect the stability of financial services companies.
What role might discrimination play when it comes to punishing convicted criminals quizlet?
What role might discrimination play when it comes to punishing convicted criminals? …
Discrimination could result in all accused persons being found guilty.
What are the 5 C's of credit?
Understanding the “Five C's of Credit” Familiarizing yourself with the five C's—
capacity, capital, collateral, conditions and character
—can help you get a head start on presenting yourself to lenders as a potential borrower. Let's take a closer look at what each one means and how you can prep your business.
What three things do lenders use credit scores to determine quizlet?
The factors that determine your credit score are called The Three C's of
Credit – Character, Capital and Capacity
. Character: From your credit history, a lender may decide whether you possess the honesty and reliability to repay a debt. Considerations may include: Have you used credit before?
What are 3 C's of credit?
Character, Capacity and Capital
.
