Answer:
C) the borrower must be given an estimate of the settlement costs within three business days of loan application.
Explanation:
The Real Estate Settlement Procedures Act (RESPA passed in 1974 but effective since June 20, 1975. It applies to the majority of purchase loans, where a lender finances the purchase of a residence (home).
One of its main purposes was to provide buyers and sellers with a complete cost disclosure, in an attempt to eliminate illegal or abusive practices carried out during the real estate settlement process (e.g. loan services demanding excessively large escrow accounts, kickbacks, mandating title insurance companies, etc.)
Answer
The answer and procedures of the exercise are attached in the following images.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in 2 sheets with the formulas indications.
Answer:
c. Because X's failure to disclose the condition of the faucet is not material.
Explanation:
In order to consider X's failure as material and therefore allowing Y to rescind the contract, the failure to disclose must involve an element of the contract that is in such a bad condition that it would make the contract as "irreparably broken".
In this case, contract law provides other remedies that Y can use to try to make X pay for the repairs, but Y cannot unilaterally rescind the contract.
The amount of money that I would be willing to pay for one share of the stock of Sid's Video Store is $17.20.
<h3>What is the value of the stock?</h3>
The amount I would be willing to pay for the stock would be based on the value of the stock.
Value of the stock = dividend that would be paid next year / ( required return - growth rate)
$2.15 / (14% - 1.5%)
$2.15 / 12.5% = $17.20
To learn more about how to determine the value of a stock, please check: brainly.com/question/18648993
The law of demand states that, other things remaining the same, if the price of a good rises, the quantity demanded of that good decreases; and if the price of a good falls, the quantity demanded of that good increases.