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Author Question: Robert is purchasing a home from Mrs. McFee. Mrs. McFee is financing the transaction herself and ... (Read 77 times)

gbarreiro

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Robert is purchasing a home from Mrs. McFee. Mrs. McFee is financing the transaction herself and providing the mortgage to Robert. What type of mortgage is characterized by the transaction?
 
  A. Reverse mortgage
   B. Assumed mortgage
   C. Purchase money mortgage
   D. Common law mortgage

Question 2

Federal law promotes accuracy, fairness and privacy of information in the files of consumer credit reporting agencies. The source of this law is:
 
  A. Equal Credit Reporting Act
   B. Fair Credit Reporting Act
   C. Truth in Lending Act
   D. Equal Credit Opportunity Act



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bobsmith

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Answer to Question 1

C

Answer to Question 2

B



gbarreiro

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Both answers were spot on, thank you once again




 

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