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3 years ago

What is a reverse mortgage in simple terms

Business

2 answers:

ella [17]3 years ago

7 0

Answer:

Explanation:

The reverse mortgage is the mortgage which is give to the people who age is 62 years or below . The main aim of providing reverse mortgage loan is to take the loan in exchange of collateral security. The collateral security here means the home which is belongs to the borrower. The loan amount is depend upon the value of the home. The time period to repay the amount is of 6 months . If an borrower is unable to pay the amount, than bank or financial institution has the right to recover the loan amount by selling the house property of the borrower, and also it does not entertain with the monthly payments.

irakobra [83]3 years ago

5 0

A reverse mortgage is a product offered by a bank to provide liquidity for people who are typically in retirement. The basic idea of a reverse mortgage is for the homeowner to use their equity as a source for retirement income. When the owner of the property dies, the bank must be paid back on that loan.

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A quality analyst wants to construct a control chart for determining whether four machines, all producing the same product, are

abruzzese [7]

Answer:

A) 0.023

Explanation:

Sample size = 1,000

Number of defectives collected from Machine #1 = 23

So, the sample proportion of defectives for machine #1 = Number of defective output / Sample size = 23/1000 = 0.023

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3 years ago

What process have Texas cities used to limit the sale of beer and wine, to decide whether to freeze property taxes for seniors a

Zielflug [23.3K]

Answer:

The process which the Texas cities have used is

E. Initiative

Explanation:

Licenses and permits

Alcoholic beverages

A county may charge its own fee for a state-issued permit to sell

alcoholic beverages in the county in an amount no greater than half

of what the state charges

Real property taxes

Texas requires appraisal of property every three years at its fair

market value unless another system of valuation is specified. All

property is assessed at 100% of its appraised value for taxation. Each

year, a county may propose two property tax rates on the assessed

value under its jurisdiction that must be approved separately, one of

which is for debt service and the other of which is for funding normal

operations. Together they form a single county rate that may not

exceed the lower of the effective tax rate or the rollback tax rate,

unless the county first holds public hearings. The effective tax rate

is the rate needed to produce the amount of levy from the prior year.

The rollback tax rate is specifically designed to prevent property tax

rate limitations from precluding a county from servicing its debts.

Franchise taxes and fees

Counties do not have the authority to levy franchise taxes or fees.

Excise taxes

Alcohol

Each county receives about a tenth of the revenues collected

outside the incorporated limits of a municipality from a 14% state tax

on mixed beverages.

Motor fuel

Each county receives a portion of the revenues from a state tax

on gasoline. The revenues are channeled to counties through the

County and Road District Highway Fund in proportion to their area,

rural population, and total mileage of lateral roads. A county may

use its portion for the construction and maintenance of lateral roads

or the acquisition of rights-of-way for lateral roads, farm-to-market.

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3 years ago

As a functional area of business, _____ measures, summarizes, and communicates financial and managerial information and advises

IgorLugansk [536]

Answer: Accounting

Explanation:

Accounting is one of the business process that helps in interpreting and identifying the various types of financial data in an organization or corporation.

The main objective of the accounting is that it manage all the financial based performance in the company and also the cash flows system in the business.

According to the given question, the accounting is known as the functional area that summarized the data or information and also give advises to the manager on the various types of financial based matters in an organization.

Therefore, Accounting is the correct answer.

3 0

3 years ago

Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The

Reil [10]

Answer:

$2575

Explanation:

Total variable overhead estimated=(6*31,500)= $189,000

Hence total overhead estimated=Total variable overhead estimated+Total fixed overhead estimated = $189,000 + $220,500 = $409,500

Hence, predetermined overhead rate = $409,500 / 31,500 = $13 per machine hour

Hence, total overhead applied=(13*400) = $520

Hence, total job cost=Direct material+Direct labor+Total overhead = $685 + $1,370 + $520 = $2575

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3 years ago

If it is true that whenever a manager encounters a particular situation (such as motivating employees to work harder), and a sin

Artyom0805 [142]

Answer:

b. The human relations perspective

Explanation:

The human relations perspective, identifies the manager as one who is supportive to subordinate, such that he or she motivates employees' to work harder. The human relations perspective do not believe in managers oppressing subordinates.

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3 years ago