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Hf Home Ownership Education Mod3

10 Questions
Hf Home Ownership Education Mod3

Please complete the Home Ownership Education Questionnaire - Module 3.

Questions and Answers
  • 1. 
    If you give incorrect or incomplete information in your Income & Expenses Declaration which you are required to sign at the attorney's office, can you accuse the bank of reckless spending?
    • A. 

      Yes

    • B. 

      No

  • 2. 
    Will your new home be transferred into your name if you have not successfully completed the homeownership assessment? 
    • A. 

      Yes

    • B. 

      No

  • 3. 
    What is the agreement called which contains all the terms and conditions of your loan and which you are required to sign at the attorney's office? 
    • A. 

      A quote

    • B. 

      An affidavit

    • C. 

      A mortgage loan agreement

  • 4. 
    Will you sign any agreement if you have not read and understood the content thereof? 
    • A. 

      Yes

    • B. 

      No

  • 5. 
    Do you know the interest rate applicable to your loan? 
    • A. 

      Yes

    • B. 

      No

  • 6. 
    Do you know your monthly bond instalment? 
    • A. 

      Yes

    • B. 

      No

  • 7. 
    Do you have the freedom to choose your insurance company? 
    • A. 

      Yes

    • B. 

      No

  • 8. 
    What are the implications if you sign the Authority for Payment document? 
    • A. 

      The bank may make payments on my behalf on date of registration.

    • B. 

      Anyone can instruct the bank to make payments on my behalf

  • 9. 
    If you cannot move into your new home due to illegal occupants living in the home, who is responsible for evicting them? 
    • A. 

      The Bank will evict the occupants

    • B. 

      You will have to evict the occupants

  • 10. 
     Will I have to pay any bond registration costs at the attorney if it was included in my bond account?
    • A. 

      Yes

    • B. 

      No