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

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Twitterhttp://twitter.com/#!/BaldwinLI

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Show All Comments
Rainmaker
1,847,282
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.

January 07, 2011 07:49 AM #1
Rainer
102,960
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).

January 07, 2011 07:58 AM #2
Rainer
76,452
Gary De Pury
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

January 07, 2011 08:01 AM #3
Rainmaker
679,728
Patrick White
Home Driven Realty, Inc - Baldwin, NY
Put our 28 years experience and technolgy to work

Good Morning Gita

Thanks for the comments. It is an interesting quiz

January 07, 2011 08:14 AM #4
Rainmaker
679,728
Patrick White
Home Driven Realty, Inc - Baldwin, NY
Put our 28 years experience and technolgy to work

Good Morning Tom

Thanks for the comments. Well done.

January 07, 2011 08:16 AM #5
Rainmaker
679,728
Patrick White
Home Driven Realty, Inc - Baldwin, NY
Put our 28 years experience and technolgy to work

Good Morning Gary

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

January 07, 2011 08:18 AM #6
Rainmaker
839,534
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!

January 07, 2011 08:45 AM #7
Rainmaker
679,728
Patrick White
Home Driven Realty, Inc - Baldwin, NY
Put our 28 years experience and technolgy to work

Good Morning Joshua

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

January 07, 2011 08:51 AM #8
Rainmaker
426,621
Marcy Moyer
Keller Williams Realty Palo Alto Probate & Trust Specialist - Palo Alto, CA
CDPE

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.

January 09, 2011 11:50 PM #9
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Patrick White

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