Florida Real Estate Exam Math for 2013 Pro Rating Interest With The 360 Day Method

In February 2013, major changes were made to the Florida real estate exam. The 30 day 12 month method of pro rating is one of the recent changes. Ron Climer …
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  • David Whitmore

    @ Damien….this is true for prorating taxes or rents, but for an assumed
    mortgage, because the mortgage payment is made every month, the seller has
    already made the mortgage payments (with interest) for the previous
    months. So you only have to prorate for the one month for which the seller
    has not yet made the payment.

  • jwaldre1

    Do you *always* count days from the beginning of the month? Never subtract
    the days tfrom the end of the month?

  • Cher Hewitt

    Wow, my instructor couldn’t even help me as much! Thank You <3

  • ClimerSchool

    jwaldre1 Yes I always count from the beginning of the month. You can count
    from the back if you want to. With interest , (paid in arrears) why would
    you want to?

  • Heather Carter

    Yes this was a question on my state exam… Thanks Ron..

  • Damien Hernandez

    Hey Ron, Correct me if i’m wrong but arent you supposed to add all months
    (Jan,Feb,March,April) and 5 days of May? This is what it says in the Linda
    Crawford book, when prorating property taxes.

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