Financial Alg Rev Ch. 7 part 2

When the bank takes possession of a home when the owner can not pay (not rental ....home)

• Helping Hand

• Foreclosure

• Eviction

• Sale

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

The money, given to a landlord from a tenant as protection in the event of damage.

• Pin money

• Repairs & Maintenance

• Security deposit

• Rent

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

Legal claim of ownership of a home; the paper with legal description.

• Mortgage

• Deed

• Line of credit

• Receipt

A procedure used to make sure that a seller does actually hold clear title.

• Clearance

• Title search

• Title obligation

• Clear and present danger

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

Up front fees to paid to a bank to lower interest rates; essentially prepaying the interest.

• Interest

• Pre-payed interest

• Points

• Service Charges

Tags

CCSS.7.RP.A.3

The amount a house can be sold for.

• Assessed value

• Market value

• Asking price

• Realtor price

Tags

CCSS.6.EE.B.6

A written agreement between the landlord and tenant.

• Lease

• Mortgage

• Promissory Note

• Deed

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

When a person does not pay their rent, the landlord can do this.

• Evict

• Rent

• Ask politely.

• Foreclose

Tags

CCSS.RI.4.3

CCSS.RI.5.3

CCSS.RI.6.3

CCSS.RI.7.3

CCSS.RI.8.3

_________ is the amount of money paid for the use of a lender's money

• principal 
• interest
• down payment 
• utility cost 

Tags

CCSS.RF.3.3B

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.4.3A

CCSS.RF.5.3A

______ ________ are the costs of transferring ownership of property, such as credit checks and title searches, to the buyer by the seller

• tax rate 
• personal liability 
• market value 
• closing costs

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5