Real Estate Finance (CE)

Next Course(s):
None

This course is included in the following Certification Program:

• Real Estate Continuing Education Credits

Our Program is All-Inclusive:

• 8 hours of classroom instruction
• Unlimited supervised computer lab/practice time for 6 months
• A complete instruction manual
• Certificate upon completion
• Career Enhancement Services
• Full Placement Counseling
• Free Resume Review
• Job Placement Assistance
• Free Test Preparation
• Computer-Based Training Files
• Assessment Testing
• Internship Opportunities
• Guarantee: Retake the course for free until test passed and/or employed.
• Check the schedule

Topics:

Lesson 1: Setting Successful and Realistic Goals
      Property options commercial, residential, mixed
      Defining buyer's goals and needs
      Survey of available resources
      Overview of existing types of financing and mortgages
      Comfort Zone for Financing
      The Credit Report
      The role of Mortgage brokers
      Calculating affordable monthly payments

Lesson 2: Sources of Conventional Financing
      Commercial and Savings Banks
      Short vs. long tem loans and what each type of bank favors
      Payment deadlines
      Pre-payment
      Grace periods
      Insurance Companies
      Policy payoffs
      Pension Funds and Credit Unions

Lesson 3: Mortgage Products
      First and Second Mortgages
      Fixed and Variable (adjustable) rate mortgages
      Pros and cons of each
      Lender's margins
      Interest rate caps
      Length of mortgages
      Fixed period-- 15 vs. 30 years
      Related tax implications
      Points associated with mortgages
      Rate of mortgage and its relation to points
      Judging when points are a good idea
      Seller paid points
      Rating a mortgage
      Mortgage insurance
      20-25% rule

Lesson 4: ADDITIONAL Financing Techniques
      Veterans Administration and the GI Loan
      VA guarantees
      Qualifying worksheet
      Required PMI
      Assumibility by non-veterans
      FHA Loan Programs
      FHA guarantees
      Qualifying worksheet
      OBRA
      MIP
      FNMA and GNMA
      Fanie Mae as quasi-public buyer of loans
      buys FHA and VA loans
      Ginnie Mae as a division of HUD
      underwirites FHA and VA loans
      Blanket Mortgages
      Pledging land against loans
      Release clauses
      Wraparound Mortgages
      The GAM Act
      Legality issues
      Down payment amounts
      Zero Coupon Financing
      Bartering

Lesson 5: Foreclosure
      Foreclosure defined
      New York State Law
      Foreclosure as Process
      Duties and Rights of Borrowers
      Rights of lenders
      Preforeclosure Period /Collection Period
      Discussion of alternate payment programs
      Selling property to avoid foreclosure
      Foreclosure Period
      Judicial foreclosure
      Surplus money action
      Notice of Li Pendens
      Public Auction
      Nonjudicial foreclosure
      Postforeclose Period
      Vacating the property
      Condition of property
      Why to avoid foreclosure
      Financial and credit ramifications
      Deeds in lieu of foreclosure