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Everfi Module 6: Renting vs Owning
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Everfi Module 6: Renting vs Owning
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25 Questions

1. an initial payment made when something is bought on credit, this amount is usually separate from the loaned amount

2. the process by which a bank or other entity takes possession of a mortgaged property when mortgage payments are not being made

3. a rental agreement where the item rented is usually returned at the end of the agreement

4. a type of credit inquiry that occurs when someone checks your credit history when deciding to loan you money to buy property

5. services like electricity, water or gas, provided to the public

6. an amount of money, usually specified in a lease agreement, used to cover any rental property damages caused by a pet

7. a type of insurance that can protect you from damage or loss of your items in a rental property

8. the person renting the property

9. occurs when a borrower is unable or unwilling to pay a required payment

10. cost associated with ownership of a house, car or similar purchase that are the owner's responsibility

11. a type of insurance that covers your home as well as your possessions inside it, in case of damage or loss

12. the owner of a property

13. something owned that decreases in value over time and if sold will get you less money than you originally paid for the item

14. renting provides ___________flexibility but can lead to ___________ costs in the long-term

15. property consisting of land or buildings

16. when you spend money on something to gain a profitable return as interest, income or appreciation in value

17. property taxes are taxes an owner pays on the value of any owned property, including land, buildings and houses

18. a ___________ is usually considered an appreciating asset because it will increase in value over time

19. an agreement where your rental payment goes towards owning the property later on; usually ends up costing more

20. a required charge for registering a vehicle with a government authority, usually a state or county

21. something owned that increases in value over time

22. property owned by an individual or organization that has some value

23. the type of loan used to finance the purchase of real estate, which is paid back in installments, with interest

24. an amount of money that the property owner holds onto during the lease that can later be used to pay for any damages to the property caused by the renter

25. refers to how much money you could earn from an investment purchase

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