Worksheetshome buying
Total questions: 11
Worksheet time: 6mins
Who covers maintenance issues when you rent?
You
The landlord
Your roommate
The person who built the house
Why did the government create Fannie Mae?
To reform the housing market into something more affordable
Being foreclosed on means being evicted or kicked out.
What is the official name of Fannie Mae?
What are mortgage backed securities?
Mortgage backed securities are government bonds, the value of which are "backed" by interest payments on mortgages.
What are the types of mortgages?
Balloon mortgages, Car mortgages
Hybrid mortgages, Paint Mortgages
Subprime mortgages, Cerbral Mortgage
Fixed-rate, adjustable-rate, interest-only, FHA, VA
What are the steps to buying a home?
The steps to buying a home include getting a loan from the bank, finding a house, home inspection, and signing the paperwork.
Only looking at new constructions and buying manuals on home renovations
Things to consider before buying
Checking Credit
Determine what you can afford
Possible Lenders
Knowing rights
None of the above
What does the Fair Housing Act prohibt against?
Race or Color
National Origin
Religion
Gender
Disability
What are things to look out for in Predatory Lending?
Look out for high interest rates, hidden fees, deceptive sales tactics, and lack of information in loan terms.
Types of Predatory Scams
Property Flipping, Refferal Scams
Home Improvement Scams, Debt Consolidation
Liar Loans, Refinance Loans
None of the above
