All categories

3 years ago

If the borrower has a previous foreclosure, can he use FHA to purchase a new home?

Business

1 answer:

snow_tiger [21]3 years ago

6 0

Answer:

Yes he can use FHA

Explanation:

Because FHA Loans are the most forgiving of foreclosures. To qualify for an FHA mortgage loan, you must wait at least three years after the foreclosure. The three year clock starts ticking from the time that the foreclosure case has ended, usually from the date that you prior home was sold in the foreclosure preceeding. If the foreclosure also involved an FHA loan, the three year waiting periods starts from the date that FHA paid the prior lender on its claim

You might be interested in

Which of the following would not work on a newspaper either in print or online form

Arada [10]

D - A Superintendent

6 0

3 years ago

Analyzing Adjusting Journal Entries, Prepaid Asset and Deferred Revenue Voss Inc., an accounting firm, adjusts and closes its ac

Gennadij [26K]

Answer:

a. Case A-the $1,125 was debited to Supplies Expense. What is the balance of Supplies at year-end?

The previous balance was Supplies $225

If the following was made:

Dr Supplies expense 1,125

Cr Supplies 1,125

Then the ending balance of Supplies would be = -$900

b. Case B the $1,125 was debited to supplies. What is the balance of Supplies at year-end?

The previous balance was Supplies $225

If the following was made:

Dr Supplies 1,125

Cr Supplies expense 1,125

Then the ending balance of Supplies would be = $1,350

Explanation:

During the current year, supplies were purchased for $1,125 cash. The inventory of supplies at the prior year-end was $225.

Adjusting entry to record supplies expense = $1,125 + $225 - $360

Dr Supplies expense 990

Cr Supplies 990

Ending balance of supplies inventory = $360

4 0

3 years ago

Repair calls are handled by one repairman at a photocopy shop. Repair time, including travel time, is exponentially distributed,

wolverine [178]

Answer:

the average number of customers awaiting repairs = 0.30

the system utilization = 42

the amount of time that the repairman is not out on a call is = 4.64 hours

the probability of two or more customers in the system = 0.1764

Explanation:

Given that :

Repair time, including travel time = mean of 1.6 hours per call.

Requests for copier repairs = mean rate of 2.1 per eight-hour day

i.e mean rate R = 2.1/day

Time = 8 hours

thus; mean rate μ = 8 hours/ 1.6 hours = 5

(a)

Let the average number of customers awaiting repairs be $I_i$ :

$I_i = \dfrac{R^2}{\mu (\mu-R)}$

$I_i = \dfrac{2.1^2}{5 (5-2.1)}$

$I_i = \dfrac{4.41}{5 (2.9)}$

$I_i = \dfrac{4.41}{14.5}$

$\mathbf{I_i = 0.30}$

the average number of customers awaiting repairs = 0.30

(b) Determine system utilization.

The system utilization is determined as follows:

$\delta = \dfrac{R}{\mu}$

$\delta = \dfrac{2.1}{5}$

${\delta = 0.42}$

$\mathbf{\delta = 42}$

Percentage of Idle time = 1 - $\delta$

Percentage of Idle time = 1 - 0.42

Percentage of Idle time = 0.58

However during an 8 hour day; The amount of time that the repairman is not out on a call is = 0.58 × 8 = 4.64 hours

(d)

the probability of two or more customers in the system by assuming Poisson Distribution is:

P(N ≥ 2) = 1 - (P₀+ P₁)

where;

P₀ = 0.58

P₁ = 0.58 × 0.42 = 0.2436

P(N ≥ 2) = 1 - ( 0.58 + 0.2436)

P(N ≥ 2) = 1 - 0.8236

P(N ≥ 2) = 0.1764

Thus; the probability of two or more customers in the system is 0.1764

7 0

3 years ago

If a manager rates an employee higher than he or she deserves in order to look good as a manager in the eyes of his or her own s

Reika [66]

Answer:

Explanation:

Based on the information provided within the question it can be said that this scenario best illustrates the concept known as organizational politics. This refers to self-serving behaviors that individuals within a company use in order to increase the likely-hood of obtaining positive results in an organization. Which is what would happen if a manager rates an employee higher, they would end up looking like a good manager that is doing their job correctly because the employees are performing efficiently.

4 0

3 years ago

Assume the factory is currently producing 40 chairs and 30 tables and an order comes in for 5 more tables . What is the opportun

aleksklad [387]

Explanation:

I dont really know. You can ask the tutors tho.

5 0

3 years ago