Ch 12 - Real Estate

Front

What term means: protects you from an unclean title?

Back

title insurance

Front

What term means: loan secured by the collateral of a specific real estate property

Back

mortgage

Front

What term means: listing service real estate agents use

Back

MLS

Front

What term means: the face value of your mortgage, not including interest

Back

principle

Front

What term means: shows where property lines are

Back

land survey

Front

What term means: the value of your house over and above the mortgage?

Back

equity

Front

What term means: an agreement that ensures the structural soundness of a house

Back

home warranty

Front

What term means: an increase in value?

Back

appreciation

Front

Baby Step 7 is to pay off your house.

Back

False

Answer explanation

Baby step 6 is to pay off your house. Baby step 7 is to build wealth and give

Front

The best mortgage is an adjustable rate mortgage.

Back

False

Answer explanation

The best way to buy a house is to pay 100% down; but if you can't do that, the best mortgage is a 15-year, fixed rate conventional mortgage