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Q 1/30
Score 0
Renting is often a wise choice for someone who desires
120
mortgage
mobility
privacy
stability
Q 2/30
Score 0
A townhouse is an example of
120
a one story home
an attached home
mobile home
prefabricated home
30 questions
Q.
Renting is often a wise choice for someone who desires
1
120 sec
Q.
A townhouse is an example of
2
120 sec
Q.
A disadvantage of renting is
3
120 sec
Q.
The following are all advantages of owning a condimimium EXCEPT
4
120 sec
Q.
A lender(the creditor) may ask a buyer to deposit additonal money, besides their mortgage, in an escrow account for paying
5
120 sec
Q.
What should homeowners do when preparing to sell their homes?
6
120 sec
Q.
What might a buyer do to get a low interest rate?
7
120 sec
Q.
The "Great Depression" was caused by
8
120 sec
Q.
When deciding how much to offer a seller to buy a home, you should consider each of the following except
9
120 sec
Q.
For a Home Equity Loan, you may borrow up to _____________of equity you own.
10
120 sec
Q.
A good way to obtain additional funds to live after retirement is
11
120 sec
Q.
A legal documents that decribes the conditions of a rental agreement is called a lease
12
120 sec
Q.
To sublet is to let a roommate move in with you and share the cost of rent.
13
120 sec
Q.
A down payment can reduce the principal for your mortage.
14
120 sec
Q.
Title insurance protects the buyer if problems are found with a property's taxes.
15
120 sec
Q.
Private Mortgage Insurance (PMI) is a special policy that protects the lender in case the buyer cannot make payments.
16
120 sec
Q.
A ranch style home has multi levels (floors)
17
120 sec
Q.
A variable rate mortgage gurantees your interest rate will not change.
18
120 sec
Q.
The person who owns the property that is rented is called a
19
120 sec
Q.
The amount of money paid to a landlord at the beginning of the lease by a tenant to cover damages caused by the tenant is called a(an)
20
120 sec
Q.
The value of a home less the amount still owed on the loan
21
120 sec
Q.
A type of insurance that covers the loss of a tenant's property as a result of damage or theft
22
120 sec
Q.
The process of obtaining a new mortgage to replace an existing one
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120 sec
Q.
The meeting of the buyer, seller and lender to complete a real estate transaction is a
24
120 sec
Q.
A long term loan, usually 30 years, to someone who buys property (home, building or land)
25
120 sec
Q.
The ability to move easily from one place to another is mobility
26
120 sec
Q.
The official document transferring ownership of a home from seller to buyer
27
120 sec
Q.
The process of reducing the balance of a loan every time a payment is made
28
120 sec
Q.
A mortgage with a specific interest rate and a fixed schedule of payments
29
120 sec
Q.
A ______________________ serves to guarantee an underlying obligation, such as the repayment of a loan. If the underlying obligation is not satisfied, the creditor may be able to seize the asset (Property)
