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Instructions for Side by Side Printing
  1. Print the notecards
  2. Fold each page in half along the solid vertical line
  3. Cut out the notecards by cutting along each horizontal dotted line
  4. Optional: Glue, tape or staple the ends of each notecard together
  1. Verify Front of pages is selected for Viewing and print the front of the notecards
  2. Select Back of pages for Viewing and print the back of the notecards
    NOTE: Since the back of the pages are printed in reverse order (last page is printed first), keep the pages in the same order as they were after Step 1. Also, be sure to feed the pages in the same direction as you did in Step 1.
  3. Cut out the notecards by cutting along each horizontal and vertical dotted line
To print: Ctrl+PPrint as a list

20 notecards = 5 pages (4 cards per page)

Viewing:

real estate unit 13 practices

front 1

O. principal

back 1

The actual amount of the loan or outstanding balance that the borrower
owes the lender

front 2

K. interest rate

back 2

The amount charged to borrow money, which is usually expressed as a
percentage

front 3

R. term

back 3

The timeframe given to repay a loan

front 4

C. amortization

back 4

The breakdown of the monthly mortgage payments throughout its term
from the start of the repayment plan all the way to the finish

front 5

P. promissory note

back 5

The evidence of debt, which states the amount of the money borrowed
and the terms of repayment

front 6

Q. security instrument

back 6

A recorded legal document given by the borrower to the lender, which
pledges the title of the property as insurance to the lender for the
full payment of the loan

front 7

I. fixed-rate mortgage

back 7

A type of repayment plan that is characterized by an interest rate that is
fixed and payments that are level for the life of the loan

front 8

B. adjustable-rate mortgage

back 8

A type of repayment plan with an interest rate based on a movable
economic index

front 9

H. equitable title

back 9

A security instrument that conveys title of real property from a trustor to
a trustee to hold as security for the beneficiary for payment of a debt

front 10

F. contract of sale

back 10

A contract in which the seller becomes the lender to the buyer. The
seller retains ownership to the property while the buyer makes payments
and occupies the property. Once all the terms of the contract are met,
the seller passes title to the buyer

front 11

N. prepayment clause

back 11

A penalty fee that a borrower is responsible for if a loan is paid off earl

front 12

G. conventional loan

back 12

Any loan made by lenders without any governmental guarantees

front 13

E. conforming loan

back 13

A loan with terms and conditions that follow guidelines set forth by
Fannie Mae and Freddie Mac

front 14

M. non-conforming loan

back 14

A loan that does not meet the standards of Fannie Mae and Freddie Mac

front 15

T. Uniform Residential Loan Application
(1003 form)

back 15

A standardized form for residential mortgage applications

front 16

Home Equity Line of Credit
(HELOC)

back 16

is a type of junior loan that taps into
a property owner’s equity and creates a revolving credit line

front 17

S. trust deed

back 17

security instrument that conveys title of real property from a trustor to a trustee to hold as security for the beneficiary for payment of a debt.

front 18

L. mortgagor

back 18

receives loan funds from a mortgagee and signs a
promissory note and mortgage
two parties in a mortgage are a ?(borrower) and a mortgagee
(lender).

front 19

A. acceleration clause

back 19

allows a lender to call the entire note due, on occurrence of a specific event such as default in payment, taxes, insurance,
or sale of the property.

front 20

D. beneficiary

back 20

The three parties to a trust deed are the borrower (trustor), lender (?), and a neutral third party called a trustee.