The FHA ​

question 42

Multiple Choice

The FHA ​

• A)aimed to transform the private home loan industry to make it more accessible to common folk.
• B)encouraged private banks to lend to middle and loan income applicants by ensuring that the government would pay defaulted loans.
• C)lowered the minimum required down payment.
• D)extended the payment period on a home.
• E)All of these are correct.

---

Definitions:

Revised Act

Legislation that has been amended or updated from its original version.

Material Violation

A substantial breach of a contract or agreement that significantly undermines the contract's purpose or damages the interests of one of the parties involved.

Material Breach

a significant violation of a contractual agreement that permits the other party to the contract to demand remediation or terminate the agreement.

RMBCA

The Revised Model Business Corporation Act, which guides the incorporation and operation of corporations in many U.S. states.