PSI Real Estate Exam: Practice of Real Estate Flashcards

PSI Real Estate Exam: Practice of Real Estate Flashcards

Title VIIIPart of the Civil Rights Act of 1968; prohibits discrimination based on race, color, religion, sex, national origin, disability or familial status. Also referred to as the Federal Fair Housing Act Federal Fair Housing ActFederal law prohibiting discrimination based on race, color, religion, sex, national origin, disability or familial status.DiscriminationTreating people unequally because of their race, religion, sex, national origin, age, or some other characteristic of a protected class, in violation of civil rights laws.Federal Housing Administration (FHA)Government agency that insures mortgage loans.BlockbustingThe illegal practice of inducing owners to sell their homes (often at a deflated price) by suggesting that the ethnic or racial composition of the neighborhood is changing, with the implication that property values will decline as a result.Also called panic selling.RedliningWhen a lender refuses to make loans secured by property in a certain neighborhood because of the racial or ethnic composition of the neighborhood.Annual Percentage Rate (APR)The total cost of financing a loan in percentage terms, as a relationship of the total finance charges to the total amount financed.Regulation ZFederal guidelines under the Truth-in-Lending Act that require full disclosure of all credit terms for consumer loans.Civil Rights Act of 1968

someone suspected of unlawful discrimination. Also called:

Checker Equal Credit Opportunity Act (ECOA)Federal law that prohibits discrimination in granting credit to people based on sex, age, marital status, race, color,

religion, national origin or receipt of public assistance.

(HUD) The Department of Housing and Urban Development government agency that deals with housing issues.