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The flashcards below were created by user
chicaevie
on FreezingBlue Flashcards.
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What is Article 7, Section 6
Florida Homestead Exemption
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Florida Homestead Exemption, what is the Article and Section
Article 7, Section 6
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How is Homestead Exemption calculated?
$25,000 deducted from a property's assessed value.
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What must a person hold in order to qualify for Homestead Exemption?
- Possess title to real property
- Bona fide Florida Residents living in the dwelling and making it their permanent home as of January 1st
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Florida Anti-Coercion Law
the lender may not require the applicant to take (mortgage protection) insurance through any particular agent or company.
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What are the two theories in mortgages?
Title Theory and Lien Theory
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When providing loan modification services, a licensee must first execute?
written agreement with the borrower
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The loan Modification must include?
- Name and address of the person providing the loan modification services
- Nature and detail of each service
- Total amount and terms of charges paid by the borrower.
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Once the borrower signs the Loan Modification Agreement, the licensee must provide the borrower a copy when?
Within 3 hours
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