Housing Flashcard

Housing Flashcard

Assessment

Flashcard

Business

9th Grade

Practice Problem

Hard

Created by

Samantha Billig

Used 1+ times

FREE Resource

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11 questions

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1.

FLASHCARD QUESTION

Front

Adjustable Rate Mortgage (ARM)

Back

A mortgage in which the interest rate is adjusted up or down periodically

2.

FLASHCARD QUESTION

Front

Assessed value in real estate

Back

The value assigned to the property by the city or county for tax purposes

3.

FLASHCARD QUESTION

Front

What are closing costs?

Back

Fees that must be paid before the sale of a home can be finalized

4.

FLASHCARD QUESTION

Front

Eviction

Back

The legal process of removing a tenant from rental property

5.

FLASHCARD QUESTION

Front

Fixed rate mortgage

Back

A mortgage that guarantees a fixed or unchanging interest rate for the life of the loan

6.

FLASHCARD QUESTION

Front

Who is a landlord?

Back

The owner of rental property

7.

FLASHCARD QUESTION

Front

Lease

Back

A written agreement that allows a tenant to use property for a set period of time at a set rent payment

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