Robert wants to buy his first home. He spent two weeks working with a real estate agent looking at homes in the $150,000 price range and made an offer to purchase a cute three bedroom home on a half-acre lot. Unfortunately, Robert was denied a mortgage from a local bank, a local credit union, and a national mortgage lender. Robert had saved $15,000 for a down payment and is surprise that he cannot obtain a mortgage. In addition to the down payment, he has a balance on his car loan of $18,000, a consolidate student loan balance of $22,000, and a balance on his credit card of $6,000. His car is worth $16,500. What is the most likely reason Robert does not qualify for a mortgage?
A) Robert does not qualify for a mortgage because his down payment is less than 20 percent
B) Robert does not qualify for a mortgage because he did not obtain financing before making an offer to purchase
C) Robert does not qualify for a mortgage because he did not account for the closing costs associated with the mortgage
D) Robert does not qualify for a mortgage because he has a negative net worth
E) None of the answers are correct
D) Robert does not qualify for a mortgage because he has a negative net worth
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Indicate whether the statement is true or false.
A covenant is:
a. the same thing as a title b. an agreement attached to a moveable piece of property that can only be undone by a state supreme court c. an unwritten promise between landowners d. the first step in bringing a property suit to court e. none of the other choices are correct
Refer to Exhibit 6-1. Which of the following SQL statements would extract the employee number and date for every instance that had a billing rate of $150?
A. SELECT Employee_No, DateFROM BILLING_HOURSWHERE Rate=150 B. QUERY Employee_No, DateFROM BILLING_HOURSWHERE Rate=150 C. SELECT Employee_No, DateWHERE Rate=150 D. QUERY BILLING_HOURSSELECT Employee_No, DateWHERE Hours>8