How does an escrow affect calculations for a mortgage?
A) Escrow is only relevant for Chapter 13 cases.
B) Escrow isn't relevant if the client is current on the mortgage.
C) Escrow is relevant because if taxes and insurance are paid separately from the mortgage, the expense has to be accounted for in Schedule J.
D) Escrow isn't relevant unless it exceeds the exemption escrow limits.
Correct Answer:
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Q6: In order to reduce the balance on
Q7: You can lien strip a junior mortgage.
A)
Q8: The debtor plans to relocate to another
Q9: Escrow means that the taxes and insurances
Q10: The following can be escrowed:
A) property taxes.
B)
Q12: All mortgages are automatically escrowed.
Q13: The expense of taxes and insurance are
Q14: What is escrow?
Q15: How do you confirm if a client's
Q16: A homeowner's association cannot initiate foreclosure proceedings,
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