Using Credit
Overspending and identity theft are examples of this.
What are disadvantages/risks of credit?
This type of loan is used to purchase real estate.
What is a mortgage?
This is what you call someone who takes out credit.
What is a debtor?
This person lives off-site and takes care of rental property.
What is a property manager?
Tax advantages, independence, and privacy are all benefits of this.
What is owning property?
A Target Circle Card is an example of this type of credit account.
What is a store account?
If you do not like the terms of your loan, you may decide to do this before the loan ends.
What is refinance?
This is usually 2-5% of your monthly balance on a credit statement.
What is the minimum payment?
Making sure the exterior is waterproof, the water supply is safe, and there are adequate locks are all this.
What are requirements of landlords?
When buying a house, you will likely have to pay this initial charge.
What is a down payment?
This option on a loan may allow you to get a lower interest rates.
What is a balloon payment?
If you are taking out a loan for college, you would take out this type of loan.
What is a deferred-payment loan?
This is how you should prioritize paying off your debts.
What is paying the highest interest rate first?
This is what can happen to a tenant is he/she does not pay their rent in a timely manner.
What is eviction?
A mortgage rate usually costs this much of your net pay.
What is 25-35%?
Telephone and utility bills are examples of this type of credit.
What is a service credit?
You may have to provide this as security for a loan.
What is collateral?
Paying off you debt early can save you money, despite having to pay this fee.
What is a prepayment penalty?
Reporting needed repairs and using property only for its intended purpose are this.
What are responsibilities of tenants?
In contrast to owning a car, a house has this type of value.
What is appreciating value?
If you are unable to offer property as security for a loan, you may need this.
What is a cosigner?
This allows you to focus on negotiating the best terms for your loan.
What is a preapproved loan?
This is how you can avoid paying interest rates on credit.
What is paying off your balance in full each month.
This is written agreement that allows a tenant to use property for a set period of time at a set rent payment.
What is a lease
This is the difference between property's value and what you owe on it.
What is equity?