Real Estate Ch. 12 - Finance

What term means: protects you from an unclean title

• Title insurance

• Mortgage

• MLS

• Principle

• Land Survey

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

• Title insurance

• Mortgage

• MLS

• Principle

• Land Survey

What term means: listing service real estate agents use

• Title insurance

• Mortgage

• MLS

• Principle

• Land Survey

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

• Title insurance

• Mortgage

• MLS

• Principle

• Land Survey

What term means: shows where property lines are

• Title insurance

• Mortgage

• MLS

• Principle

• Land Survey

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

• Equity

• Home warranty

• Appreciation

• Principle

• Land survey

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

• Equity

• Home warranty

• Appreciation

• Principle

• Land survey

What term means: an increase in value

• Equity

• Home warranty

• Appreciation

• Principle

• Land survey

Baby step 7 is to pay off your house

• True

• False

Answer explanation

Baby step 6 is to pay off your house.

Baby step 7 is to build wealth and give

The best mortgage is an adjustable rate mortgage

• True

• 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