The Back-End Ratio Compares All Monthly Debt Payments and Housing

question 128

True/False

The back-end ratio compares all monthly debt payments and housing costs to gross monthly income.

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Due Diligence

The comprehensive investigation or exercise of care that a reasonable business or person is expected to take before entering into an agreement or contract.

Self-Regulatory Body

An organization created by a profession or industry to regulate its own members' conduct without external control.

Customer Disputes

Conflicts between a business and its customers typically over product or service quality, charges, or contractual obligations.

Better Business Bureau

A non-profit organization focused on enhancing marketplace trust by setting standards for ethical business behavior and monitoring compliance among its members.