Home > Flashcards > Real Estate & Planning > Florida Real Estate

Details Title: Florida Real Estate Description: Chapter 7 Total Flash Cards: 25 Created: 06/05/2005 12:15:01	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term Annual Percentage Rate (APR) Definition total yearly cost of credit Term blockbusting Definition rumor that a neighborhood is deteriorating Term Civil Rights Act of 1866 Definition prohibits any type of discrimination based on RACE Term Fair Housing Act of 1968 Definition prohibits any type of discrimination based on race, color, religion, sex, national origin, familiar status, or handicap status Term red-lining Definition banks & insurance companies deny loan or coverage based on neighborhood Term steering Definition selective showing of real estate Term triggering terms Definition found in advertisements, include the amount or percentage of down payments, number of payments, amount of any payment, and any finance charges Term ECOA Definition Equal Credit Opportunity Act Term Where would you get a Fair Housing Poster? Definition Department of Housing and Urban Development (HUD) Term and what are the seven protected classes Definition familial status, race, E sex, handicapped, color, O religion, national origin, FRESHCORN Term truth in lending Definition no bait and switch Term RESPA Definition real estate settlement procedures act Term who requires the use of a uniform settlement statement HUD form 1 Definition RESPA Term how long does the lender have to provide the borrower with the good-faith estimates of probable closing costs Definition at the time of application for a loan or within three business days thereafter Term kickback Definition except as authorized by HUD or RESPA no person or persons may give or except kickbacks or referral fees Term prepayment penalty Definition a lender may include a prepayment penalty for up to the first 36 months from the creation of the loan but only if the borrower has also been offered a choice of another product with out a prepayment penalty and the borrower must be given a written disclosure of the terms of the prepayment fee Term no refinancing Definition no lender or its affiliates may refinance a loan to the same borrower within the first 18 months when doing so does not reasonably benefit the borrower Term dwelling unit Definition a structure that is rented for use as a home residents were sleeping person Term landlord Definition the owner or lesser of the dwelling unit Term tenant Definition any person entitled to occupy a dwelling unit under a rental agreement Term landlords obligation for rental deposits Definition 1 hold the money in a separate non interest bearing Florida Bank and do not comingle or pledge the security deposiit for ant debt 2 hold the money in a separate interest bearing Florida Bank and pay the tenant at least 75 percent of annualized average interest rate or five percent per year simple interest 3 Post a surety bond with the clerk of the Circuit Court in the county in which the real property is located in the total amount of security deposits and advance rents or $50,000 which ever is less and pay the tenant five percent per year simple interest Term how long does any landlord have to show the tenant how the security deposit funds were deposited Definition 30 days in writing with bank name and address Term how long a does the landlord have to return the security deposit and any interest if the landlord does not intend to make a claim against the security deposit Definition fifteen days Term how many days has the landlord have to notify the tenant that the landlord intends to impose a claim on the deposit Definition thirty days Term a landlord who runs a duplex or apartments is obligated to provide what services Definition test extermination garbage pickup garbage receptacles unless waived in the rental agreement