Key Mortgage Clauses You MUST Know | Real Estate Exam Prep Videos
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- Опубліковано 2 лип 2024
- In this real estate exam prep video, we discuss 7 common but key mortgage clauses student must know for their real estate license exam. These 7 clauses are:
Due-On-Sale Clause (a.k.a. Alienation Clause) -
Acceleration Clause -
Defeasance Clause -
Release Clause (a.k.a. Partial Release Clause) -
Prepayment Penalty Clause -
Subordination Clause -
Assignment of Rents Clause -
Other key real estate terms discussed in this real estate exam prep video include:
Mortgagee -
Mortgagor -
Leasehold Interest -
Promissory Note -
Lien Priority -
Best of luck with your studies...
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New real estate exam prep videos uploaded 2-3x per week to students pass their real estate exam. Feel free to leave a comment, suggestion, or questions asked in the comment section.
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Paul Vojchehoske
Mr. Real Estate Seminars, Inc.
The Real Estate Classroom
P. O. Box 540725
Omaha, NE 68154
(402) 660-0395
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P.S. Nothing in this video shall be construed as legal or financial advice and is for INFORMATIONAL purposes only! Please consult with a competent attorney, financial advisor, and your broker before implementing anything you’ve learned from this video. Likewise, the issues discussed herein may not be applicable in your state or local jurisdiction.
Cheers,
Paul Vojchehoske
Related Video: Types of Mortgages (Non VA, FHA Loans) Types of Mortgages (Non FHA, VA Loans)
Do you have a video on license law?
@@laurawatkins2721 Hi Laura... I am sorry but I do not. License law is very state specific..... this is for the national side of the exam :o(
I passed both my state and national today ! 5/29/24. Thank you for your knowledge, insight, and patience in delivering the material that contributed to my success. 🎉
Great job! That is super awesome! Congrats... the exam is no joke. Only those that put in the hard work pass. Kudos! Best of luck in your new venture. You will crush it! ;o)
I went from getting below 50% on my practice quizzes to getting 86% on 159 questions for just the finance portion! Thank you! Your videos have helped me the most out of anything
Excellent! Glad it was helpful and thank you for leaving a comment! Best of luck!
I passed my state exam yesterday and these videos were everything!!! OMG Thank you!!!
Hi Sherane... that is super awesome! Congratulations, I am so happy for you. The exam is no joke... only those who put in the hard work and study pass. I am also happy we were part of your success. I wish you the absolute best of luck with your new business venture. Drop me an email... paul@randallschool.com and I'll send you the Real Estate Agents Simple Bookkeepping Spreadsheet to keep all your income and expense organized for taxes....
@@TheRealEstateClassroom Thank you! Will do!
@@sherane_h I emailed it to you! 😁
@@TheRealEstateClassroom Thank you!!!
Paul, you're the best! I'm so glad I found your videos -- they are so clear and concise, you explain things so well. Passed my CA test yesterday on the first try and couldn't have done it without your great videos!
Hi Lisa, CONGRATULATIONS! That is awesome. The exam is no joke! Only those that really commit to study pass... especially the first try. I am glad we were part of your study regime. Thank you for reach out and letting us know as well! Best of luck in your new venture! I am sure you will rock it! 🥳🥳
I was so confused with all these clauses until I watch your video. THANK YOU!
You're welcome. I am glad they've cleared things up !:o)
Thank you so much for all the videos!!! I passed my National and State test on the first try!!!!
That is awesome! Congratulations! Thank you for letting me know. I wish you the best of luck in your new venture and I am glad we helped you reach your goals!
Congratulations . I am studying to take the test. Do you have any suggestions on what I should focus on? there"s just so much to learn.😩😳😟
You did it again paul! thanks for the explanations and the videos.
Hi Paul, just want to thank you for your videos, I've been watching them for a few months in conjunction with studying from the Principals of Real Estate Text book. I often referred to your videos for more clarification of topics that I struggled with. I'm happy to say that I passed the National and State Exams, and I'm on my way to becoming a Realtor! Thanks again!
Hi Alexia.... CONGRATULATIONS that is so awesome!!! Please know, the exam is specifically designed so you can't pass it by chance or luck. Only those that put in the time and hard work to study pass. Even then, only about 60% pass. I am so happy for you and I am glad we were part of your study routine. I wish you all the best in your new venture. It can be difficult to get momentum going at first but don't give up and don't get discourgaed. Once things start going...skies the limit!!! :o) If you wouldn't mind... I would appreciate a good review on Facebook... Here is the link! facebook.com/TheRealEstateClassroom/reviews/?ref=page_internal
Stay focused... great things are about to happen!
@@TheRealEstateClassroom Done ! Thanks again, you are amazing!
@@AlexiaGallucci Thank you!
I’m taking prep exams and if I don’t know a word in the question I come and see your videos. After watching I get the right answer, very helpful, informative with key necessary information! Thanks a ton
Thank you.... You got this!
This was great. Thanks for the clarification on the common clauses in R.E.
You're welcome
Thank you for your videos. They are quality and it helps greatly in conjunction with on line learning and tests.
Thank you, Alvin much appreciated!
Great review . Short and to the point. Thank you !
Glad it was helpful!
Thanks a lot for all your information helping in all my doubts!!!
Keep studying ... you will crush it
Your videos helped me a lot with passing my test! Thank you!
Hello Lissette... that's GREAT NEWS! Congratulations on passing your exam and I am glad we could help. I wish you nothing but the best of luck in your new career!!! :o)
thanks.. applicable even outside the US
Thank you a million. I have my GA state exam tomorrow. I came across the clauses. I needed a boost. I got the boost. Thanks Paul.
You're welcome!!! Best of luck on the exam tomorrow... I am sure you will crush it!
@@TheRealEstateClassroom I crushed it! I passed! Thanks for your videos.
@@desigirl9707 Congrats that is so awesome!!! People don't realize how hard that exam is... you don't just pass it without a ton of studying. I wish you the best of luck in your new venture!
That you Paul for all your help. Just passed my exam!
Great job! CONGRATULATIONS that is so awesome!!! By now you know, the exam is is no joke... Only those that put in the time and hard work to study pass. Even then, only about 60% pass. I am so happy for you and I am glad we were part of your study routine. I wish you all the best in your new venture. It can be difficult to get momentum going at first but don't give up and don't get discourgaed. Once things start going...skies the limit!!! :o) If you wouldn't mind... I would appreciate a good review on Facebook... Here is the link! facebook.com/TheRealEstateClassroom/reviews/?ref=page_internal
Stay focused... great things are about to happen!
Great class reveiw . 👍🙏🏼.. thank you. Yes. I am sharing your great content video to anyone i know.
Much appreciated! Seriously... it really helps grow the channel
Very helpful video lessons ... very good explanations... so thankful 😊🙏🏻
Thank tou
Very useful and helpful video. Thanks a lot
Glad it was helpful!
Amazing video!!
Thank you!
Great video. The example were useful
Thank you!
You are amazing.
Thank you
You're welcome!
ty
Can you please do video for option contract
Yep... it's on my list :o)
Do you have a video on license law?
Hi Laura... I am sorry but I do not. License law is very state specific..... this is for the national side of the exam :o(
Isn’t the mortgagor the lender and mortgagee the borrower?
No... remember... tthere are 2 "e's" in leneder and 2 "e's" in mortgagee
@@TheRealEstateClassroom Bizarre answer. There are 2 "e's" in sellee, vendee, etc. yet its the exact opposite. So what we need to understand is that the
'mortgagee' is the one who receives the loan because the bank deposits your promissory note. YOUR PROMISSORY NOTE IS LEGAL TENDER. That is why they are called the mortgagee!
@@PerimeterPermaculture the way I remembered it when I was studying for the real estate exam is there are 2 e's in leneder and 2 e's in mortgagee 😁
I've got a question? Can you sign the MORTGAGE first at closing? If NO! WHY?
🤣You know why!