What is foreclosure?
Homeownership wk 1

Flashcard
•
English
•
11th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
Foreclosure is the action of taking possession of a mortgaged property when the mortgagor fails to keep up their mortgage payments.
2.
FLASHCARD QUESTION
Front
Define ethnicity in the context of homeownership.
Back
Ethnicity is the quality or fact of belonging to a population group or subgroup made up of people who share a common cultural background or descent.
3.
FLASHCARD QUESTION
Front
What does the term 'metropolitan' refer to?
Back
Metropolitan relates to or denotes a metropolis, often inclusive of its surrounding areas.
4.
FLASHCARD QUESTION
Front
What is redlining?
Back
Redlining is a discriminatory practice that prevented people of color from accessing financial services and homeownership in the United States.
5.
FLASHCARD QUESTION
Front
Explain gentrification.
Back
Gentrification is the process of change in the character of a neighborhood through the influx of more affluent residents (the 'gentry') and investment.
6.
FLASHCARD QUESTION
Front
What are mortgage payments?
Back
Mortgage payments are the regular payments made by a borrower to a lender to repay a loan used to purchase real estate.
7.
FLASHCARD QUESTION
Front
What is the significance of homeownership in society?
Back
Homeownership is often associated with financial stability, community involvement, and personal investment in one's living environment.
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