Financing
This is the financial system that connects homebuyers to people selling homes.
What is the housing market?
This is an example of a maintenance item that the landlord would likely be responsible for.
This is one responsibility of the landlord.
Answers vary.
This is one advantage of renting over buying a home.
Answers vary.
This is what a mortgage being collateralized means.
What is the lender could foreclose, or take ownership of, the house if the debtor fails to make regular payments?
This is an example of a regular maintenance task that a renter is expected to do themselves.
What is cleaning tasks?
This is the organization in charge of a neighborhood, including collecting dues, enforcing regulations, and providing services for the neighborhood.
What is an HOA?
** DAILY DOUBLE **
This is the term for a homeowner's growing portion of ownership of their home as they pay off their mortgage, which can later be used to finance a new home.
What is equity?
This is an aspect of your finances that banks look at to determine your willingness to pay off loans, and some renters may require a certain value of this to allow you to rent with them.
What is a credit score?
This is a type of maintenance that homeowners must keep up with that apartment renters generally don't have to worry about.
What is lawn care?
These are two limits to the rights of the landlord in terms of how they treat their tenant.
What is advance notice for visits and reasonable cause for eviction?
This is the agreement between a landlord and tenant that outlines the responsibilities of both parties.
What is a lease?
The housing market crashed with devastating economic results in 2008. One major reason for this economic collapse was the breakdown of the "housing bubble", wherein artificially advantageous financing offers allowed homebuyers to take out loans on homes they couldn't afford. This would be one indication of a "housing bubble" in the modern housing market.
What is a large number of homeowners taking out loans with extremely large principals.
This is a fund managed by a third-party from which mortgage, taxes, and/or insurance is paid, as an additional layer of protection for the lender.
What is escrow?
This is why maintenance can add to the expense of owning a home.
What is because pest control, electricians, and other professionals can be costly?
These are some examples of the limits to the freedom of the renter that can be in a lease.
At least three: visitors, pets, renovations, cars, moving, etc.
These are some things that may be restricted or prohibited by the terms of your lease.
What are visitors, pets, and subletting?
This is why a 50-year mortgage, while it has a lower monthly payment than a standard 30-year mortgage, is harder to pay off.
What is because a longer loan term increases overall repayment amount?
This is one example of a major repair that a landlord WOULD NOT be responsible for.
What is damaged caused intentionally or through negligence?
These are the general responsibilities of the landlord and the renter in a lease agreement.
What is the rent pays rent and maintains the property on a daily basis and the landlord provides a habitable living space for the renter?
This is how to determine whether it is better to lease or purchase a home.
What is, to make a list of and prioritize things that are important to you?