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Credit and Debit Cards

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Laurianne Howe

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2y ago
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Cards in this guide (27)
How long will credit inquiries remain on your credit report

2 years

What is done with the finance charge assessed by a credit card company

added to the balance

Which term is defined as property that is pledged as security on a loan

Collateral

Which of these is the best description of a credit card

It can be used to buy things and pay for them over time.

What should be the first step in calculating a monthly credit card finance charge

change the percent to a decimal

Which of these provides the funds needed for expenses such as property taxes homeowners insurance mortgage insurance etc

The escrow account that is established by the mortgage holder pays most of these expenses. From each mortgage payment made by the borrower, a certain portion goes into the escrow account. Then, when these expenses become due, the lender pays them from the escrow account. If there is an insufficient amount in the excrow account, the borrower is required to pay the balance.

The main exception to this is homeowners insurance, which the borrower may get him/herself. The lender will require that it be named as an "additional insured" on the policy. This serves to secure the lender's financial interest in the property to the extent of the amount still owing. That is, the insurer will name the lender on the settlement check along with the insured's name. In that way, the lender can ensure that repairs are made and the value of the property is preserved.

If the borrower does not get homeowners insurance, the lender can get it to secure its financial interest alone. This is often referred to as a "single interest" policy.

Sam is a chef He has a savings account of 500 and a car worth 7569 He owes 450.23 on his new stereo Calculate Sam's net worth

7618.77

Brian works at Metro College as a computer analyst His car is worth 10359.19 His checking and savings accounts are worth 673.59 Brian owes his sister a total of 145.69 His balance on his credi

8,763.34

Which Involves renting a residence for a specific amount of time such as six months one year or even five years

lease

What its the best description of foreclosure

it ends all legal rights of a homeowner if mortgage payments are not made.

Which government official is responsible for determining the amount of property tax a homeowner must pay

Your local property assessor is responsible for determining the assessed value each time your property (real estate or personal property) is reassessed. Depending on there you live, this may be a city property assessor or county assessor. Sometimes one assessor values personal property (cars, business and industrial equipment) and another values real estate (homes, townhomes, condominiums, commercial and industrial properties. some cities and counties reassess very year while others reassess less frequently.

However, the amount that you pay in property taxes is a product of multiplying the most recent assessed value by the personal property tax rate or real estate tax rate. These rates of taxation are set by the city council or county board of commissioners as part of their budget process each year. Your local assessor does not set the tax rate. To find out more talk to your local assessor.

Which of these is not included on a credit card statement

credit score

Which of these protects you when applying to receive credit

Equal Credit Opportunity Act

Why do some utility companies allow customers to pay an average fee each month

it enables customers to avoid the high energy bills of peak usage during coldest and hottest times of the year.

What methods has the highest finance charge

Charging the previous balance

Which does not need to be done if you feel someone may have obtained your personal information

Use the same passwords when opening new account

Which is not usually required by the lender when you apply for a home mortgage

Renters Insurance.

Would not result from defaulting on a loan

Imprisonment

Which of these is not a way in which credit card companies assess finance charges

some place a fee on the average yearly balance . ( A+ )

What is allowed by the creditor when you apply for credit

asking for your social security number

Which of these describes an adjustable rate mortgage

it is subject to changes in interest rates.

Is there a payday loans website for Christians

Yes, there are some websites for payday loans for Christians, some examples are: Christian Faith Financial-Christian Payday Loans, Payday Loans Apply and ChristianNet.

What describes a annual percentage rate

A measure of the cost of credit expressed as a yearly interest rate.

What is a type of fee that a credit card company might charge

credit limit fee

Calculate the annual interest rate on a credit card if the monthly interest rate is 1.2.

14.4 %. A+

How much equity does Lisa have in her house if Lisa's house was appraised at 115000 and she still owes 42000 on her mortgage loan

$73,000

Which of these describes an assumable mortgage

It can be transferred from seller to a buyer

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