SLIDE 12 Borrower education
All
ll bor borro rowers must ers must attend b tend borrower edu
cation tion co course rse
In
Inform forms borr s borrow
r on rights dut rights duties ies and obliga and obligations of al tions of all parties l parties to to the home loan he home loan ag agre reement, ment, and ensur and ensure an e an und understandi erstanding o ng of hom home e
ship, in in al all its fac ts facets ets – su such as ch as
Ex
Expl plai ain te n terms ms l like e inte nterest, rest, i ins nstal tallmen ment, t, mo mortgage, i tgage, ins nsurance, rance, cos
ts, , cons
equences of de
fault, t, roles roles and and respon responsibi biliti ties es o
f borro rowe wer and le r and lende nder
Cov
ers basic as aspec pects ts o
f a s sal ale ag e agreemen reement t when buy when buying a ng a prope property ty
Inc
Includes udes a a budget budget ex exerci ercise e to ex to expl plai ain af affordabi fordability ty
Home
wnership as p as wea wealth th c creat reation and
fami mily s stabi tability ty, i inc ncludi uding ng the the impo mportance rtance
having a ng a Las Last W t Will and and Testam Testament ent, , whi which deal deals w with as th asset di et distr tribut bution
The
The i impo mportanc tance of e of Ma Maintai ntaini ning ng and and imp mprovi roving ng the p the proper roperty ty
12
