Homeownership Pt. 3 Vocabulary

Front

What does 'reparations' mean?

Back

The making of amends for a wrong one has done.

Front

What does 'restitution' mean?

Back

The restoration of something lost or stolen.

Front

What does 'assert' mean?

Back

To state a fact or belief confidently and forcefully.

Front

What does 'dichotomy' mean?

Back

A division or contrast between two things.

Front

What does 'urban decay' mean?

Back

The process by which a city falls into disrepair.

Front

What is the significance of 'homeownership'?

Back

Homeownership is significant as it represents stability, investment, and a sense of belonging.

Front

What does 'equity' mean in real estate?

Back

Equity is the difference between the market value of a property and the amount owed on it.

Front

What is a 'mortgage'?

Back

A mortgage is a loan specifically for purchasing real estate, secured by the property itself.

Front

What does 'foreclosure' mean?

Back

Foreclosure is the legal process by which a lender takes possession of a property due to the owner's failure to make mortgage payments.

Front

What is 'appreciation' in real estate?

Back

Appreciation is the increase in the value of a property over time.