In this section, we dive into the essential aspects of brokerage agreements and how agents are compensated in real estate transactions. Here’s what we’ll cover:
- Brokerage Agreements: Understanding the foundational agreements between brokers and clients.
- Parties to Brokerage Contracts: Learn who the key players are in real estate contracts and what their roles entail.
- Listing Agreements: Explore the various types of listing agreements and how they set the stage for property sales.
- Compensation Structures: Get to know how commissions are determined, including net listings, and when they apply.
- Procuring Cause: Understand the concept of who is entitled to commission in different situations.
- MLS and Marketing: Learn about the Multiple Listing Service and its role in marketing properties.
- Buyer and Seller Agreements: Gain insights into buyer agency agreements and how agents are compensated for their work with buyers.
- Contract Termination: Explore how brokerage agreements can be revoked and what that means for agents.
By the end of this chapter, you’ll have a strong grasp of the agreements that govern real estate transactions and how brokers and agents are compensated for their efforts.
Chapter 10 Overview: Brokerage Agreements and Compensation
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Unit 1 Introduction: Brokerage Agreements
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Parties to Brokerage Contracts: Understanding Who’s Involved!
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Listing Agreements: Your Key to Selling a Home!
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Types of Listing Agreements: Choosing the Right Fit!
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Scenario: Exclusive Agency
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Scenario: Exclusive Agency Cont.
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Documenting Procuring Cause: Who Earns the Commission?
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Lesson 10 of 438 within section .
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Broker Protection Clause: Safeguarding Your Commission!
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Scenario: Listing Commission
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Net Listing: Understanding a Unique Compensation Structure!
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Multiple Listing Service: Your Key to Real Estate Marketing!
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Listing Agreements: Typical Elements You Need to Know!
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Parties to the Contract: Who’s Who in Real Estate Agreements!
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Description of the Property: What You Need to Know!
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Asking Price: The Starting Point for Selling Your Home!
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Term of the Contract: The Clock is Ticking!
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Payment of Broker’s Fee: Understanding How Agents Get Paid!
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Fair Housing Statement: Promoting Equality in Real Estate!
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Specialized Marketing Techniques: Exploring Pocket Listings!
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Specialized Marketing Techniques: The Scoop on ‘Coming Soon’ Listings!
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Permission to Advertise: Getting the Green Light!
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Optional Elements or Clauses: Adding Flexibility to Real Estate Contracts!
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Buyer Agency Agreements: Your Guide to Getting the Best Home!
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Exclusive Buyer Agency Agreements: Your Guaranteed Representation!
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Non-Exclusive/Open Buyer Agency: Flexibility in Your Home Search!
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Compensation for Buyer’s Agents: How Agents Get Paid!
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Other Brokerage Agreements: Exploring Different Types!
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Revoking a Brokerage Contract: When and How to Say Goodbye!
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Broker Owns Contracts: Who Holds the Rights?
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Lesson 39 of 438 within section .
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Lesson 40 of 438 within section .
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Unit 2 Introduction: Compensation in Real Estate
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Commission: How Agents Get Paid in Real Estate!
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Ready, Willing, and Able: Understanding Buyer Qualifications!
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Opportunities for Commission: Where Agents Earn Their Keep!
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Referral or Finder’s Fees: Earning Money by Connecting!
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Commission Ranges: Understanding How Agents Get Paid!
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Payment of Commission: How Agents Get Paid!
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Dangling Commission: The Unclaimed Earnings in Real Estate!
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Lesson 51 of 438 within section .
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Calculating Commission: How Agents Get Paid!
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Scenario: Commission Splits
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Commission to Cooperating Brokers: Working Together in Real Estate!
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Paying the Selling Broker: Understanding How Commissions Flow!
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Commission Disputes: Navigating Conflicts in Real Estate Payments!
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Scenario: Commission Disputes
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Procuring Cause: Who’s Responsible for the Sale?
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Avoiding Disputes: Keeping the Peace in Real Estate!
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Broker Protection Clause: Safeguarding Agent Commissions!
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Disclosure of Compensation: Being Transparent in Real Estate!
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Chapter Summary Overview: Brokerage Agreements and Compensation
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Lesson 66 of 438 within section .
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Chapter 11 Summary Overview: Fair Housing Laws
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Unit 1 Introduction: “Unlocking Doors: The Key to Fair Housing Laws!
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The Path to Civil Rights in Real Estate
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Reconstruction Amendments: “Freedom’s New Blueprint”
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Civil Rights Act of 1866: “A Bold Step Toward Equality”
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Significant Supreme Court Cases: “Landmarks on the Road to Justice”
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Private Restrictive Covenants: “The Hidden Rules of Homeownership”
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Lesson 74 of 438 within section .
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Lesson 75 of 438 within section .
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Fair Housing Act: “Leveling the Playing Field in Housing”
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Fair Housing Act: Protected Classes – “Who’s Covered Under the Law?
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Fair Housing Act: Other Prohibitions – “Beyond the Basics of Discrimination
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Familial Status: “Housing Rights for Families”
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Familial Status Exceptions: “Understanding the Limitations”
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Disability: “Housing Rights for Everyone”
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Scenario: Reasonable Accommodation and Modification
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Scenario: Look the other way
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Fair Housing Exemptions: “Understanding the Limits of Protection”
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Exemption 1: Single-Family Home – “The One-Off Rental”
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Exemption 2: Owner-Occupied – “Living with the Landlord”
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Exemption 3: Operated by Organizations – “The Organizational Exception”
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Exemption 4: Operated by Private Clubs – “Membership Matters”
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Lesson 90 of 438 within section .
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Lesson 91 of 438 within section .
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Americans with Disabilities Act (ADA): “Access for All”
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ADA Title III: Public Accommodations – “Ensuring Equal Access”
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Lesson 94 of 438 within section .
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Lesson 95 of 438 within section .
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Americans with Discriminatory Activities: “Identifying Unfair Practices”
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Scenario: What it is we do
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Americans with Discriminatory Activities: “Identifying Unfair Practices”
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Linguistic Profiling: “The Hidden Bias in Communication”
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Steering: “Navigating Discrimination in Housing”
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Blockbusting: “The Tactics of Fear in Housing Markets”
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Redlining: “Mapping Inequality in Housing”
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Lesson 103 of 438 within section .
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Lesson 104 of 438 within section .
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The Role of HUD: “Guardians of Fair Housing”
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Testing: “A Tool for Fair Housing Enforcement”
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HUD Complaint: “Speaking Up for Fair Housing”
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Civil Lawsuit: “Taking Action for Justice”
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Department of Justice Action: “Enforcing Civil Rights”
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Discrimination in Municipal Actions: “When Local Governments Fail”
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Scenario: Intent or Impact
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Disparate Impact Today: “The Unseen Consequences of Policies”
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A Licensee’s Responsibility: “Upholding Fair Housing Standards”
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Disclosure: “The Importance of Transparency in Real Estate”
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Protecting Yourself: “Safeguarding Your Rights in Real Estate”
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Awareness is a Two-Way Street: “Mutual Understanding in Housing”
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Scenario: Keep record of things
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Lesson 118 of 438 within section .
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Lesson 119 of 438 within section .
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Fair Housing Act Restrictions: “Guardrails for Equality”
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Scenario: Think before you talk
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Using Words: Community Description – “Crafting Inclusive Narratives”
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Using Words: Property Description – “The Power of Accurate Language”
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Using Words: Property Location – “Describing Place with Care”
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Human Models: “Representation Matters in Advertising”
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Advertising: “Strategic Choices in Real Estate Marketing”
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Fair Housing Logos: “Symbols of Equality and Awareness”
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Fair Housing Slogans: “Words that Inspire Change”
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Posters: “Visual Advocacy for Equality
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Lesson 130 of 438 within section .
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Lesson 131 of 438 within section .
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Modern Technology: “Transforming the Real Estate Landscape”
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Scenario: Social Awareness
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Lesson 134 of 438 within section .
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Lesson 135 of 438 within section .
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Lesson 136 of 438 within section .
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Chapter 11 Overview: Fair Housing Laws
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Unit 1 Introduction: “Unlocking Doors: The Key to Fair Housing Laws!
Lesson 138 of 438 within section .
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The Path to Civil Rights in Real Estate
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Reconstruction Amendments: “Freedom’s New Blueprint”
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Civil Rights Act of 1866: “A Bold Step Toward Equality”
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Significant Supreme Court Cases: “Landmarks on the Road to Justice”
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Private Restrictive Covenants: “The Hidden Rules of Homeownership”
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Lesson 144 of 438 within section .
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Lesson 145 of 438 within section .
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Fair Housing Act: “Leveling the Playing Field in Housing”
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Fair Housing Act: Protected Classes – “Who’s Covered Under the Law?
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Fair Housing Act: Other Prohibitions – “Beyond the Basics of Discrimination
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Familial Status: “Housing Rights for Families”
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Familial Status Exceptions: “Understanding the Limitations”
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Disability: “Housing Rights for Everyone”
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Scenario: Reasonable Accommodation and Modification
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Scenario: Look the other way
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Fair Housing Exemptions: “Understanding the Limits of Protection”
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Exemption 1: Single-Family Home – “The One-Off Rental”
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Scenario: Living Single (vide here)
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Exemption 2: Owner-Occupied – “Living with the Landlord”
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Exemption 3: Operated by Organizations – “The Organizational Exception”
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Exemption 4: Operated by Private Clubs – “Membership Matters”
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Lesson 161 of 438 within section .
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Americans with Disabilities Act (ADA): “Access for All”
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ADA Title III: Public Accommodations – “Ensuring Equal Access”
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Lesson 164 of 438 within section .
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Lesson 165 of 438 within section .
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Americans with Discriminatory Activities: “Identifying Unfair Practices”
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Scenario: What it is we do
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Americans with Discriminatory Activities: “Identifying Unfair Practices”
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Linguistic Profiling: “The Hidden Bias in Communication”
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Steering: “Navigating Discrimination in Housing”
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Blockbusting: “The Tactics of Fear in Housing Markets”
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Redlining: “Mapping Inequality in Housing”
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Lesson 173 of 438 within section .
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Lesson 174 of 438 within section .
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The Role of HUD: “Guardians of Fair Housing”
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Testing: “A Tool for Fair Housing Enforcement”
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HUD Complaint: “Speaking Up for Fair Housing”
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Civil Lawsuit: “Taking Action for Justice”
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Department of Justice Action: “Enforcing Civil Rights”
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Discrimination in Municipal Actions: “When Local Governments Fail”
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Scenario: Intent or Impact
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Disparate Impact Today: “The Unseen Consequences of Policies”
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A Licensee’s Responsibility: “Upholding Fair Housing Standards”
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Disclosure: “The Importance of Transparency in Real Estate”
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Protecting Yourself: “Safeguarding Your Rights in Real Estate”
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Awareness is a Two-Way Street: “Mutual Understanding in Housing”
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Scenario: Keep record of things
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Lesson 188 of 438 within section .
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Lesson 189 of 438 within section .
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Unit 3 Introduction: “Words Matter: Understanding Advertising Practices in Real Estate”
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Fair Housing Act Restrictions: “Guardrails for Equality”
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Scenario: Think before you talk
Lesson 192 of 438 within section .
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Using Words: Community Description – “Crafting Inclusive Narratives”
Lesson 193 of 438 within section .
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Using Words: Property Description – “The Power of Accurate Language”
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Using Words: Property Location – “Describing Place with Care”
Lesson 195 of 438 within section .
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Human Models: “Representation Matters in Advertising”
Lesson 196 of 438 within section .
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Advertising: “Strategic Choices in Real Estate Marketing”
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Fair Housing Logos: “Symbols of Equality and Awareness”
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Fair Housing Slogans: “Words that Inspire Change”
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Posters: “Visual Advocacy for Equality
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Lesson 201 of 438 within section .
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Lesson 202 of 438 within section .
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Modern Technology: “Transforming the Real Estate Landscape”
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Scenario: Social Awareness (video here)
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Lesson 205 of 438 within section .
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Lesson 206 of 438 within section .
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Chapter 12 Overview: Contract Law in Real Estate
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Unit 1 Introduction: “The Foundation of Agreements: Introduction to Contract Law”
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Contract? “The Building Blocks of Agreements”
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Manifestation: Express and Implied Contracts – “Understanding Different Types of Agreements”
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Pinky Promise: Unilateral and Bilateral Contracts – “Understanding the Types of Promises”
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Scenario: Uni Contracts VS Bilateral Contract
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Status Game: Executory and Executed – “Understanding the Lifecycle of Contracts”
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Contract Validity: “Ensuring Legality and Enforceability”
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Essential Elements of a Valid Contract: “Building Blocks of Legal Agreements”
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Lawful Objective: “The Purpose Behind Contracts”
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Consideration: “The Essential Value Exchange in Contracts”
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Adequacy: “Understanding Value in Contracts”
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Lesson 220 of 438 within section .
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Lesson 221 of 438 within section .
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Statute of Frauds: “The Written Agreement Requirement”
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Doctrine of Part Performance: “Enforcing Agreements Despite Missing Formalities”
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Parol Evidence: “Understanding the Role of Oral Agreements”
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Lesson 225 of 438 within section .
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Power of Attorney: “Empowering Representation in Legal Matters”
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The Vitalness of Contracts: “The Foundation of Trust and Clarity”
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E-Contracts and Signatures: “The Future of Agreement”
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Lesson 229 of 438 within section .
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Lesson 230 of 438 within section .
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Unit 2 Introduction: “The Dance of Offer and Acceptance”
Lesson 231 of 438 within section .
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Offer: “The First Step in Contract Formation”
Lesson 232 of 438 within section .
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Show me the Offers: “How to Effectively Communicate Your Intent”
Lesson 233 of 438 within section .
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Seeing Multiples: “Navigating Competitive Real Estate Situations”
Lesson 234 of 438 within section .
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Acceptance: “The Agreement That Binds”
Lesson 235 of 438 within section .
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Acceptance Only by Offeree: “Who Can Say Yes?”
Lesson 236 of 438 within section .
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Money talking to the Offeror: “The Importance of Communication in Contracts”
Lesson 237 of 438 within section .
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Keep Things In Order: “Following Directions in Contract Acceptance”
Lesson 238 of 438 within section .
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In the No Variance of Terms: “The Importance of Consistency in Acceptance”
Lesson 239 of 438 within section .
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Scenario: You Offer. I Accept.
Lesson 240 of 438 within section .
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Scenario: You Offer. I accept Cont.
Lesson 241 of 438 within section .
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Times Up: “Understanding When Offers Expire”
Lesson 242 of 438 within section .
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Lesson 243 of 438 within section .
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Lets Come To The Table: “Negotiating Terms and Conditions”
Lesson 244 of 438 within section .
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A Slight Change: “Understanding Significant Changes in Contracts”
Lesson 245 of 438 within section .
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Genuine Assent: “The Foundation of Valid Contracts”
Lesson 246 of 438 within section .
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Lesson 247 of 438 within section .
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Unit 3 Introduction: “Performance and Discharge: Fulfilling Contractual Obligations”
Lesson 248 of 438 within section .
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Full Performance: “Completing Contractual Obligations”
Lesson 249 of 438 within section .
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Scenario: You Have To Perform
Lesson 250 of 438 within section .
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Assignment and Novation: “Transferring Contractual Rights and Obligations”
Lesson 251 of 438 within section .
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Discharging a Contract: “Ending Obligations Legally”
Lesson 252 of 438 within section .
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Scenario: Have To Cut Ties Sometimes
Lesson 253 of 438 within section .
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Lesson 254 of 438 within section .
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Lesson 255 of 438 within section .
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Lesson 256 of 438 within section .
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Breaching A Contract: “When Agreements Are Not Honored”
Lesson 257 of 438 within section .
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Clauses: “The Building Blocks of Contracts”
Lesson 258 of 438 within section .
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Timing in Contracts: “The Importance of Deadlines and Schedules”
Lesson 259 of 438 within section .
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Time is of the Essence: “The Importance of Timeliness in Contracts”
Lesson 260 of 438 within section .
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Tendering Performance: “The Act of Fulfilling Contractual Obligations”
Lesson 261 of 438 within section .
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A Simple Response To A Breach: “Taking Action When Contracts Are Broken”
Lesson 262 of 438 within section .
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Fixes For A Breach: “Finding Solutions When Contracts Are Broken”
Lesson 263 of 438 within section .
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Compensatory Damages: “Making Things Right After a Breach”
Lesson 264 of 438 within section .
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Liquidated Damages: “Pre-Determined Compensation for Breaches”
Lesson 265 of 438 within section .
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Scenario: Sometimes You Have To Pay
Lesson 266 of 438 within section .
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Attorney Fees: “Understanding Legal Costs in Contracts”
Lesson 267 of 438 within section .
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Specific Performance: “When Money Isn’t Enough”
Lesson 268 of 438 within section .
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Lesson 269 of 438 within section .
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Lesson 270 of 438 within section .
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Lesson 271 of 438 within section .
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More Than One Damage Type: “Understanding Different Forms of Compensation”
Lesson 272 of 438 within section .
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Alternative Remedies: “Exploring Alternatives to Monetary Damages”
Lesson 273 of 438 within section .
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Lesson 274 of 438 within section .
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Lesson 275 of 438 within section .
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Lesson 276 of 438 within section .
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Lesson 277 of 438 within section .
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Chapter 13 Summary: Purchase Agreements and Leases
Lesson 278 of 438 within section .
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Unit 1 Introduction: “Purchase Agreements and Other Contracts”
Lesson 279 of 438 within section .
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Agree To Purchase “The Blueprint for Buying Property”
Lesson 280 of 438 within section .
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More Purpose of a Purchase Agreement: “Why It Matters in Real Estate Transactions”
Lesson 281 of 438 within section .
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Legal and Equitable Title: “Understanding Ownership in Real Estate”
Lesson 282 of 438 within section .
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Just Your Standard Contract: “The Power of Uniformity in Agreements”
Lesson 283 of 438 within section .
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Thee Essentials of a Contract: “Building Blocks of Agreement”
Lesson 284 of 438 within section .
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Provisions: “Important Clauses in Contracts”
Lesson 285 of 438 within section .
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New Earnest Money Deposit: “Securing Your Intent to Buy”
Lesson 286 of 438 within section .
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Contingencies: “Conditions That Shape Real Estate Deals”
Lesson 287 of 438 within section .
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Attorney Review: “A Safety Net for Contracts”
Lesson 288 of 438 within section .
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Financing Contingencies: “Securing Your Purchase”
Lesson 289 of 438 within section .
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Lesson 290 of 438 within section .
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Lesson 291 of 438 within section .
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Scenario: Finance Contingencies
Lesson 292 of 438 within section .
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Additional Contingencies: “Safeguarding Your Real Estate Transaction”
Lesson 293 of 438 within section .
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Scenario: Stamp Of Approval
Lesson 294 of 438 within section .
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Failure to Meet Contingencies: “What Happens When Conditions Aren’t Satisfied”
Lesson 295 of 438 within section .
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Riders and Addenda: “Enhancing Your Real Estate Contracts”
Lesson 296 of 438 within section .
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FHA/VA Addendum: “Understanding Financing-Specific Terms in Real Estate Contracts”
Lesson 297 of 438 within section .
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As-Is Clause: “Understanding Property Condition in Real Estate Transactions”
Lesson 298 of 438 within section .
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It’s Personal: Understanding What Belongs to You
Lesson 299 of 438 within section .
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Scenario: Personal Property
Lesson 300 of 438 within section .
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Binders: “Securing Your Real Estate Deal”
Lesson 301 of 438 within section .
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E-Contracts and Signatures: “The Future of Agreement”
Lesson 302 of 438 within section .
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Other Contracts: Options in Real Estate
Lesson 303 of 438 within section .
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Option Consideration: “The Price of Flexibility in Real Estate”
Lesson 304 of 438 within section .
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Lesson 305 of 438 within section .
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Other Contracts: Right of First Refusal
Lesson 306 of 438 within section .
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Scenario: Right of First Refusal
Lesson 307 of 438 within section .
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Scenario: First Right Of Refusal
Lesson 308 of 438 within section .
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Lesson 309 of 438 within section .
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Lesson 310 of 438 within section .
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Unit 2 Introduction: “Leases – Understanding Rental Agreements”
Lesson 311 of 438 within section .
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What Is a Lease? “A Framework for Renting Property”
Lesson 312 of 438 within section .
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Prereqs For A Valid Lease: “What Makes a Lease Legally Binding”
Lesson 313 of 438 within section .
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Usual Provisions in a Lease: “Understanding Common Lease Terms”
Lesson 314 of 438 within section .
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Lesson 315 of 438 within section .
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Security Deposits: “Protecting Property and Interests”
Lesson 316 of 438 within section .
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Common Elements in a Lease: “What You Need to Know”
Lesson 317 of 438 within section .
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Lead Paint Disclosure: “Understanding the Risks of Lead in Housing”
Lesson 318 of 438 within section .
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Covenant of Quiet Enjoyment: “Your Right to Peaceful Living”
Lesson 319 of 438 within section .
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Rights of Possession: “Understanding Your Right to Occupy Property”
Lesson 320 of 438 within section .
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Scenario: Right of Possession
Lesson 321 of 438 within section .
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Selling Leased Property: “Navigating the Sale of Rental Properties”
Lesson 322 of 438 within section .
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Lesson 323 of 438 within section .
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Lesson 324 of 438 within section .
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Transferring Right of Occupancy: “Understanding the Process of Passing Rental Rights”
Lesson 325 of 438 within section .
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Assignment: “Transferring Lease Rights to Another Tenant”
Lesson 326 of 438 within section .
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Sublease: “Renting Your Space to Someone Else”
Lesson 327 of 438 within section .
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Lesson 328 of 438 within section .
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Lesson 329 of 438 within section .
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Landlord’s Consent: “The Key to Modifying Lease Agreements”
Lesson 330 of 438 within section .
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Novation: “Transferring Obligations in a Lease Agreement”
Lesson 331 of 438 within section .
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Gross Leases: “Simplifying Rental Agreements”
Lesson 332 of 438 within section .
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Net Leases: “Understanding the Cost-Sharing Approach”
Lesson 333 of 438 within section .
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Lesson 334 of 438 within section .
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Lesson 335 of 438 within section .
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Lesson 336 of 438 within section .
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Percentage Leases: “Linking Rent to Business Performance”
Lesson 337 of 438 within section .
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Leases with Adjustable Rent: “Adapting to Market Conditions”
Lesson 338 of 438 within section .
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Leases with Land Leases: “Understanding the Basics of Ground Leasing”
Lesson 339 of 438 within section .
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Sale-and-Leaseback: “Unlocking Capital Through Strategic Transactions”
Lesson 340 of 438 within section .
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From Lease to Purchase: “Turning Tenants into Homeowners”
Lesson 341 of 438 within section .
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Lesson 342 of 438 within section .
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Lesson 343 of 438 within section .
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Lesson 344 of 438 within section .
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Chapter Overview: Understanding the Mortgage Landscape
Lesson 345 of 438 within section .
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Unit 1 Introduction: The Business Of The Mortgage Sector
Lesson 346 of 438 within section .
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Influences That Affect the Supply of Money: “Understanding the Money Market Dynamics”
Lesson 347 of 438 within section .
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Samplings Of Present Mortgage Industry: “How History Shaped Modern Financing”
Lesson 348 of 438 within section .
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Reserve Requirements and Moral Suasion: “Balancing the Money Supply”
Lesson 349 of 438 within section .
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Discount Rate and Open Market Operations: “Key Tools of Monetary Policy”
Lesson 350 of 438 within section .
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Federal Housing Administration (FHA): “Supporting Homeownership for All”
Lesson 351 of 438 within section .
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Primary Markets: “The Front Lines of Lending”
Lesson 352 of 438 within section .
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Lesson 353 of 438 within section .
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Lesson 354 of 438 within section .
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The Head Mortgage Lenders: “Your First Stop for Home Financing”
Lesson 355 of 438 within section .
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Commercial Banks and Savings & Loans (S&Ls): “Understanding Your Financing Options”
Lesson 356 of 438 within section .
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Coming Off The Bench Market Players: “Understanding the Supporting Cast of the Mortgage Industry”
Lesson 357 of 438 within section .
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Portfolio Lending: “Keeping Loans Close to Home”
Lesson 358 of 438 within section .
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The Mortgage Brokers and Mortgage Loan Originators (MLOs): “Navigating the Home Loan Process”
Lesson 359 of 438 within section .
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Tell Me About The Secondary Mortgage Markets. “The Backbone of Home Financing”
Lesson 360 of 438 within section .
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Secondary Market Players: “Who’s Who in Mortgage Trading”
Lesson 361 of 438 within section .
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Fannie, Freddie, and Ginnie: “Key Players in the Mortgage Market”
Lesson 362 of 438 within section .
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Value of Standardization: “Bringing Consistency to the Mortgage Market”
Lesson 363 of 438 within section .
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Conforming vs. Nonconforming Loans: “Understanding Mortgage Types”
Lesson 364 of 438 within section .
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Fanning The Mortgage Crisis: “Understanding the Factors Behind the Collapse”
Lesson 365 of 438 within section .
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Lesson 366 of 438 within section .
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Unit 2 Introduction: Financing Concepts
Lesson 367 of 438 within section .
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Utility Belt Of Financing: “Tools for Securing Home Loans”
Lesson 368 of 438 within section .
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Promissory Notes: “The Promise to Pay”
Lesson 369 of 438 within section .
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Flexiable Instruments and the UCC: “Understanding Financial Instruments”
Lesson 370 of 438 within section .
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Lien Theory and Title Theory: “Understanding Property Ownership and Mortgages”
Lesson 371 of 438 within section .
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Security Instruments: “Protecting Lenders and Borrowers”
Lesson 372 of 438 within section .
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Scenario: Mortgagor vs. Mortgagee
Lesson 373 of 438 within section .
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Trust Deeds: “A Unique Way to Secure a Loan”
Lesson 374 of 438 within section .
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Land Contracts: “Buying Property Through Installments”
Lesson 375 of 438 within section .
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Land Contracts: Advantages and Disadvantages
Lesson 376 of 438 within section .
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Scenario: Land Contracts. Pros & Cons
Lesson 377 of 438 within section .
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Land Contracts: Caution – “Navigating the Risks of Buying Property”
Lesson 378 of 438 within section .
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Mortgage and Note Clauses: “Understanding Key Provisions in Your Loan Agreement”
Lesson 379 of 438 within section .
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Lesson 380 of 438 within section .
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Lesson 381 of 438 within section .
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Acceleration and Alienation Clauses: “When Loans Speed Up or Change Hands”
Lesson 382 of 438 within section .
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Other Common Mortgage Clauses: “Key Terms to Know in Your Loan Agreement”
Lesson 383 of 438 within section .
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Covenants in Mortgages: “Promises That Protect Your Property Deal”
Lesson 384 of 438 within section .
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Additional Provisions in Mortgage Agreements: “Additional Terms to Keep in Mind”
Lesson 385 of 438 within section .
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Lesson 386 of 438 within section .
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Lesson 387 of 438 within section .
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Unit 3 Introduction: Loan Characteristics and Types
Lesson 388 of 438 within section .
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Mortgage Loan Repayment: “Breaking Down How You Pay Back Your Home Loan”
Lesson 389 of 438 within section .
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Adjustable Rate Loans: “When Your Interest Rate Can Change Over Time”
Lesson 390 of 438 within section .
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ARMs and the Teaser Rate: “The Low Rate That Doesn’t Last Forever”
Lesson 391 of 438 within section .
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ARMs and Caps: “Keeping Your Rate from Skyrocketing”
Lesson 392 of 438 within section .
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ARMs and Adjustment Periods: “When and How Your Rate Can Change”
Lesson 393 of 438 within section .
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Lesson 394 of 438 within section .
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Lesson 395 of 438 within section .
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Hybrid and Conversion ARMs: “Combining Fixed and Adjustable Rates”
Lesson 396 of 438 within section .
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Graduated Payment Mortgage (GPM): “When Payments Start Small and Grow Over Time”
Lesson 397 of 438 within section .
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Growth Equity Mortgage (GEM): “Building Equity Faster with Rising Payments”
Lesson 398 of 438 within section .
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Various Loans: “Finding the Right Fit for Your Home Financing”
Lesson 399 of 438 within section .
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Special Purpose Loans: “Unique Loans for Unique Needs”
Lesson 400 of 438 within section .
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Equity Loans: “Tapping Into Your Home’s Value for Cash”
Lesson 401 of 438 within section .
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Collateral Loans: “Borrowing with a Safety Net for the Lender”
Lesson 402 of 438 within section .
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Lesson 403 of 438 within section .
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Construction Loans: “Building Your Dream Home, One Step at a Time”
Lesson 404 of 438 within section .
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Construction Loans: Disbursement – “Funding Your Project in Stages”
Lesson 405 of 438 within section .
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The Bank Of You!: “When the Seller Becomes the Lender”
Lesson 406 of 438 within section .
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Loan Assumption and “Subject To” Financing: “Taking Over an Existing Loan”
Lesson 407 of 438 within section .
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Mathing Principal and Interest: “Breaking Down Your Monthly Payment”
Lesson 408 of 438 within section .
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Fully Amortizing, Fixed-Rate Loans: “The Steady Path to Pay Off Your Home”
Lesson 409 of 438 within section .
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Lesson 410 of 438 within section .
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Lesson 411 of 438 within section .
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Lesson 412 of 438 within section .
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Unit 4 Introduction: Mortgage Fraud and Predatory Lending
Lesson 413 of 438 within section .
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Mortgage Fraud: “When Real Estate Deals Cross the Line”
Lesson 414 of 438 within section .
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Mortgage Fraud Participants: “Who’s Involved When Things Go Wrong”
Lesson 415 of 438 within section .
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Provisions on Valuation Independence: “Keeping Property Valuations Honest”
Lesson 416 of 438 within section .
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Real Estate Licensees and Their Roles: “Who’s Who in Real Estate Transactions”
Lesson 417 of 438 within section .
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Borrower Fraud: “When Borrowers Bend the Truth to Get Approved”
Lesson 418 of 438 within section .
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Fraudulent Finances: “When False Financials Mess with Mortgages”
Lesson 419 of 438 within section .
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Fraudulent Identities: “When Borrowers Fake It to Make It (Illegally)”
Lesson 420 of 438 within section .
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Lesson 421 of 438 within section .
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Property Flipping: “Turning a Profit by Buying and Selling Fast”
Lesson 422 of 438 within section .
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Scamming Schemes: “The Sneaky Tactics Some People Use in Real Estate”
Lesson 423 of 438 within section .
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“Managing Risk: The Secret to Smart Investing and Success”
Lesson 424 of 438 within section .
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Lesson 425 of 438 within section .
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Lesson 426 of 438 within section .
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Predatory Lending and Subprime Loans: “When Loans Take Advantage of Borrowers”
Lesson 427 of 438 within section .
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Subprime Lenders: “High-Risk Loans with High Costs”
Lesson 428 of 438 within section .
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Junk Fees: “The Sneaky Costs in Your Loan”
Lesson 429 of 438 within section .
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Reviewing The Literature for Overcharging: “Spotting Hidden Costs in Your Loan Paperwork”
Lesson 430 of 438 within section .
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Equity Skimming: “Taking the Money and Running – Without Paying the Mortgage”
Lesson 431 of 438 within section .
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Loan Flipping in Equity Skimming: “Racking Up Debt with Repeated Refinancing”
Lesson 432 of 438 within section .
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Signals of Predatory Lending: “Spotting the Red Flags in Unfair Loans”
Lesson 433 of 438 within section .
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Lesson 434 of 438 within section .
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Lesson 435 of 438 within section .
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Lesson 438 of 438 within section .
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Chapter 15
Chapter 15 Overview: Understanding the Loan Process, Qualification, Loan Programs, and Foreclosure
Lesson 1 of 111 within section Chapter 15.
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Unit 1 Introduction: The Loan Process
Lesson 2 of 111 within section Chapter 15.
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Pre-Qualification: “Your First Step to Knowing What You Can Afford”
Lesson 3 of 111 within section Chapter 15.
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Pre-Approval: “Your Ticket to Being a Serious Buyer”
Lesson 4 of 111 within section Chapter 15.
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Lesson 5 of 111 within section Chapter 15.
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Choosing A Lender: “The First Step to Securing Your Loan”
Lesson 6 of 111 within section Chapter 15.
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Scenario: Breakdown Of Loan Process
Lesson 7 of 111 within section Chapter 15.
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Interest Rates: “The Cost of Borrowing Money for Your Home”
Lesson 8 of 111 within section Chapter 15.
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Lesson 9 of 111 within section Chapter 15.
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Lesson 10 of 111 within section Chapter 15.
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Common Fees: “The Extra Costs of Getting a Loan”
Lesson 11 of 111 within section Chapter 15.
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Lesson 12 of 111 within section Chapter 15.
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Justifying Discount Points: “Pay Now to Save Later on Interest”
Lesson 13 of 111 within section Chapter 15.
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Lender’s POV: “How Lenders Evaluate and Manage Risk in Loans”
Lesson 14 of 111 within section Chapter 15.
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Annual Percentage Rate (APR): “The True Cost of Borrowing”
Lesson 15 of 111 within section Chapter 15.
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Lesson 16 of 111 within section Chapter 15.
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Scenario: Total Cost Of A Loan
Lesson 17 of 111 within section Chapter 15.
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Property Insurance: “Protecting Your Investment in Case of Loss”
Lesson 18 of 111 within section Chapter 15.
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PITI and Escrow Accounts: “The Basics of Monthly Mortgage Payments”
Lesson 19 of 111 within section Chapter 15.
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Truth in Lending Act (TILA): “Ensuring You Know the Real Cost of Borrowing”
Lesson 20 of 111 within section Chapter 15.
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TRID Rule: Loan Estimate – “Your Early Look at Loan Costs”
Lesson 21 of 111 within section Chapter 15.
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Lesson 22 of 111 within section Chapter 15.
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Lesson 23 of 111 within section Chapter 15.
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TILA: Right of Rescission – “A Cooling-Off Period for Borrowers”
Lesson 24 of 111 within section Chapter 15.
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Real Estate Settlement Procedures Act (RESPA): “Transparency in the Home-Buying Process”
Lesson 25 of 111 within section Chapter 15.
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RESPA Disclosures: “Key Information You Get at Loan Application”
Lesson 26 of 111 within section Chapter 15.
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RESPA Disclosures: “Important Info You Get Before Closing”
Lesson 27 of 111 within section Chapter 15.
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RESPA Disclosures: “What You Get At and After Closing”
Lesson 28 of 111 within section Chapter 15.
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RESPA and the Loan Estimate: “Your Guide to Upfront Loan Costs”
Lesson 29 of 111 within section Chapter 15.
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Loan Estimate Waiting Periods: “Time to Review Before You Commit”
Lesson 30 of 111 within section Chapter 15.
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Equal Credit Opportunity Act (ECOA): “Fair Access to Credit for All”
Lesson 31 of 111 within section Chapter 15.
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Community Reinvestment Act (CRA): “Investing in All Neighborhoods”
Lesson 32 of 111 within section Chapter 15.
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Wall Street Reform and Consumer Protection Act: “Safeguarding Consumers and Stabilizing the Economy”
Lesson 33 of 111 within section Chapter 15.
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Lesson 34 of 111 within section Chapter 15.
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Lesson 35 of 111 within section Chapter 15.
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Unit 2: Qualification and Underwriting – “Evaluating Borrowers for Financial Success”
Lesson 36 of 111 within section Chapter 15.
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Qualifying Ratios: “The Math Behind Mortgage Approval”
Lesson 37 of 111 within section Chapter 15.
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Consistent Monthly Income: “The Backbone of Mortgage Approval”
Lesson 38 of 111 within section Chapter 15.
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Housing Expense Ratio: “How Much of Your Income Goes to Housing?”
Lesson 39 of 111 within section Chapter 15.
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Debt: “Understanding Financial Obligations in the Mortgage Process”
Lesson 40 of 111 within section Chapter 15.
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Total Debt-to-Income Ratio: “Measuring Financial Balance for Loan Approval”
Lesson 41 of 111 within section Chapter 15.
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Lesson 42 of 111 within section Chapter 15.
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Lesson 43 of 111 within section Chapter 15.
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The Usual Qualifying Standards: “Meeting the Basics for a Conventional Loan”
Lesson 44 of 111 within section Chapter 15.
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FHA Qualifying Standards: “Easing the Path to Homeownership”
Lesson 45 of 111 within section Chapter 15.
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VA Qualifying Standards: “A Veteran’s Pathway to Homeownership”
Lesson 46 of 111 within section Chapter 15.
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Using an Amortization Table: “Breaking Down Your Mortgage Payments”
Lesson 47 of 111 within section Chapter 15.
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Maximum Purchase Price: “Finding the Right Price for Your Budget”
Lesson 48 of 111 within section Chapter 15.
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Uniform Residential Loan Application (URLA): “The Starting Point for Your Mortgage Journey”
Lesson 49 of 111 within section Chapter 15.
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Income: “Fueling Your Mortgage Approval”
Lesson 50 of 111 within section Chapter 15.
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Credit History: “Your Financial Reputation”
Lesson 51 of 111 within section Chapter 15.
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Credit Scoring and FICO: “The Number Behind Your Financial Profile”
Lesson 52 of 111 within section Chapter 15.
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Lesson 53 of 111 within section Chapter 15.
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Lesson 54 of 111 within section Chapter 15.
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-500? “Rebuilding Your Financial Reputation”
Lesson 55 of 111 within section Chapter 15.
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Bankruptcy: “Starting Over Financially – What It Means and How to Rebuild”
Lesson 56 of 111 within section Chapter 15.
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Assets: “Building Blocks of Financial Strength”
Lesson 57 of 111 within section Chapter 15.
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The Co-Pilot “Teamwork in Homeownership”
Lesson 58 of 111 within section Chapter 15.
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Underwriting: “The Final Check Before Loan Approval”
Lesson 59 of 111 within section Chapter 15.
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The Why: “Understanding the Mortgage Process for a Stable Financial Future”
Lesson 60 of 111 within section Chapter 15.
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Lesson 61 of 111 within section Chapter 15.
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Lesson 62 of 111 within section Chapter 15.
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Lesson 63 of 111 within section Chapter 15.
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Unit 3 Introduction: Loan Programs
Lesson 64 of 111 within section Chapter 15.
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Conventional Loans: “The Standard Path to Homeownership”
Lesson 65 of 111 within section Chapter 15.
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Loan-to-Value (LTV) Ratio: “Measuring Your Investment in the Property”
Lesson 66 of 111 within section Chapter 15.
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Lesson 67 of 111 within section Chapter 15.
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LTV at 80%: “The Sweet Spot in Home Financing”
Lesson 68 of 111 within section Chapter 15.
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Lesson 69 of 111 within section Chapter 15.
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When The Sky Isn’t The Limit High: “Risky Territory in Home Financing”
Lesson 70 of 111 within section Chapter 15.
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Private Mortgage Insurance (PMI): “The Cost of a Low Down Payment”
Lesson 71 of 111 within section Chapter 15.
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Paying PMI: “The Extra Cost for a Smaller Down Payment”
Lesson 72 of 111 within section Chapter 15.
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Hang Up On PMI: “Ending the Extra Cost When You Build Equity”
Lesson 73 of 111 within section Chapter 15.
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Lesson 74 of 111 within section Chapter 15.
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Lesson 75 of 111 within section Chapter 15.
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Secondary Financing: “The Support Act for Your Primary Mortgage”
Lesson 76 of 111 within section Chapter 15.
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Lesson 77 of 111 within section Chapter 15.
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Secondary Financing Conditions: “What to Know Before You Borrow Again”
Lesson 78 of 111 within section Chapter 15.
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Federal Housing Administration (FHA): “Making Homeownership Accessible”
Lesson 79 of 111 within section Chapter 15.
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Mortgage Insurance Premium (MIP): “The Cost of FHA Loan Protection”
Lesson 80 of 111 within section Chapter 15.
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FHA Property Requirements: “Ensuring Safety, Soundness, and Security”
Lesson 81 of 111 within section Chapter 15.
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FHA Qualifying Standards: “Opening Doors to Homeownership”
Lesson 82 of 111 within section Chapter 15.
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FHA Loan Programs: “A Path to Homeownership for Many”
Lesson 83 of 111 within section Chapter 15.
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Lesson 84 of 111 within section Chapter 15.
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VA-Guaranteed Loans: “A Benefit for Those Who Served”
Lesson 85 of 111 within section Chapter 15.
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Certificate of Reasonable Value (CRV) and Entitlement: “VA Home Loan Essentials”
Lesson 86 of 111 within section Chapter 15.
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VA Qualifying Standards: “Meeting the Requirements for a VA Loan”
Lesson 87 of 111 within section Chapter 15.
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USDA Rural Development Programs: “Financing the Dream in Rural Areas”
Lesson 88 of 111 within section Chapter 15.
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Homebuyer Assistance Programs: “Boosting Your Path to Homeownership”
Lesson 89 of 111 within section Chapter 15.
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Lesson 90 of 111 within section Chapter 15.
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Lesson 91 of 111 within section Chapter 15.
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Unit 4 Introduction: Foreclosure and Short Sale
Lesson 92 of 111 within section Chapter 15.
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Financial Hardship: “When Making Ends Meet Becomes a Struggle”
Lesson 93 of 111 within section Chapter 15.
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Foreclosure: “When the Bank Takes Back the Keys”
Lesson 94 of 111 within section Chapter 15.
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Judicial Foreclosure: “When the Court Gets Involved”
Lesson 95 of 111 within section Chapter 15.
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Judicial Foreclosure: Sale – “The Final Step in the Process”
Lesson 96 of 111 within section Chapter 15.
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Nonjudicial and Strict Foreclosure: “Other Paths to Property Repossession”
Lesson 97 of 111 within section Chapter 15.
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Real Estate Owned (REO): “When Lenders Become Landlords”
Lesson 98 of 111 within section Chapter 15.
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Lesson 99 of 111 within section Chapter 15.
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Winners and Losers of Foreclosure: “Who Gains and Who Struggles?”
Lesson 100 of 111 within section Chapter 15.
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Alternative Solutions: “Finding a Way Out Before Foreclosure”
Lesson 101 of 111 within section Chapter 15.
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Short Sale: “Selling Short to Save Your Credit”
Lesson 102 of 111 within section Chapter 15.
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Licensee’s Role: “Guiding Homeowners Through Tough Choices”
Lesson 103 of 111 within section Chapter 15.
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Scenario: Netting The Sale
Lesson 104 of 111 within section Chapter 15.
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Short Sale Package: “The Essential Toolkit for Approval”
Lesson 105 of 111 within section Chapter 15.
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Rejecting a Short Sale: “When Lenders Say No”
Lesson 106 of 111 within section Chapter 15.
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Lesson 107 of 111 within section Chapter 15.
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Lesson 108 of 111 within section Chapter 15.
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Lesson 109 of 111 within section Chapter 15.
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Lesson 110 of 111 within section Chapter 15.
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Yasssss! You Completed Part 2!
Lesson 111 of 111 within section Chapter 15.
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