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What's Your Foreclosure IQ ? Take the Test

By
Real Estate Broker/Owner with Home Driven Realty, Inc

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 ?

TAKE THE FORECLOSURE IQ TEST

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.

TAKE THE FORECLOSURE IQ TEST


 
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.

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Data Source: Multiple Listing Service of Long Island

Information deemed Relable but not Guaranteed.

All photos and written content were produced by Patrick White. All Rights Reserved. This content may not be reproduced or reprinted, except for Active Rain Re-blogging, without express written  permission of Patrick White, REALTOR®, Home Driven Realty, Inc., Baldwin, New York.

Patrick White, IMSD, e-Pro, RSPS, SFR, SRES, Realtor
Licensed Real Estate Broker

Certified HUD Foreclosure Broker

Home Driven Realty Inc
www.HomeDrivenRealty.com

mailto://Pat@HomeDrivenRealty.com

www.Facebook.com/HomeDrivenRealtyInc


Twitter http://twitter.com/#!/BaldwinLI

Mobile Telephone: 917 533-8475
Fax: 516 867-6476

  


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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for the post. I will check out the link.

Jan 06, 2011 11:49 PM
Tom Robinson
Keller Williams Realty Kingstowne/Alexandria, VA Office - Fairfax, VA
Experienced Real Estate, Professional Serving No. VA and DC

Took The I.Q. test. One I missed I actually knew and didn't use my gut. I got 8 ou tof 11 right (and almost 9).

Jan 06, 2011 11:58 PM
Gary De Pury, ESQ.
Bay Vista Realty - Land O Lakes, FL

Great quiz, but two of the questions are flawed.....(I know it is not your quiz, so I am not complaining)

The one about who can buy a HUD home. HUD has limitations on who can buy in the first round.....they still want owners to have first pick over investors....so the question is presented in a false manner,

 

Ah well, doesn't really matter.

 

Gary De Pury, SFR

Tampa Short Sale Specialist

Broker Owner

Bay Vista Realty

Jan 07, 2011 12:01 AM
Patrick White
Home Driven Realty, Inc - Baldwin, NY
Driven to bring New Yorkers home

Good Morning Gita

Thanks for the comments. It is an interesting quiz

Jan 07, 2011 12:14 AM
Patrick White
Home Driven Realty, Inc - Baldwin, NY
Driven to bring New Yorkers home

Good Morning Tom

Thanks for the comments. Well done.

Jan 07, 2011 12:16 AM
Patrick White
Home Driven Realty, Inc - Baldwin, NY
Driven to bring New Yorkers home

Good Morning Gary

Thanks for the comments and taking the quiz. Have a great day.

Jan 07, 2011 12:18 AM
Joshua Zargari
MJ Decorators Workshop LI staging and home decorating - Lynbrook, NY
MJ Decorators Workshop

Good morning Patrick!

I took the quiz and did well...

Thank you!

Jan 07, 2011 12:45 AM
Patrick White
Home Driven Realty, Inc - Baldwin, NY
Driven to bring New Yorkers home

Good Morning Joshua

Thanks for the comment and taking the quiz. Have a great day.

Jan 07, 2011 12:51 AM
Marcy Moyer
eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales - Mountain View, CA
Probate, Trust, and Investment Specialist

So I took the quiz and I got 2 wrong, but I disagree strongly with the correct answers.  The HUD issue has already been addressed.  The question about courthouse notices are not true in my area. Most of the homes going into foreclosure are worth less than the mortgage so buying at an auction is not attractive to most buyers.

Jan 09, 2011 03:50 PM