What's Your Foreclosure IQ ? Take the Test
National Association of Realtors Foreclosure IQ Test
Home owners who always pay their mortgage on time don't need to worry about foreclosed homes in their neighborhood ? Home owners can sidestep foreclosure by transferring the title of their home to a foreclosure rescue company for a year or two ? Any buyer can purchase a HUD home (a home that's in possession of the U.S. Department of Housing and Urban Development), as long as he or she has the money or can qualify for the necessary amount of mortgage financing ?
Foreclosures have a substantial impact on the U.S. Housing market, representing strong concerns for homeowners and potential opportunities for prospective home buyers and investors. State and federal programs such as the Home Affordable Modification Program (HAMP) and Home Affordable Foreclosure Alternatives (HAFA) have reduced foreclosure inventories, a foreclosure knowledge assesssment, a foreclosure "IQ" Test, can be helpful in making foreclosure prevention and purchase decisions.
The National Association of Realtors offers an interactive Foreclosure IQ Test. As stated in the Test introduction, "Before you jump into the hot foreclosure market, test your knowledge to make sure you're not getting in over your head. Our interactive quiz clears up popular misconceptions and helps you gain a more complete understanding of foreclosure - including how to help home owners avoid it."
Click Foreclosure IQ to take the test.