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LET’S PRACTICE
Name: _____________________________________________________________________________
mobile/manufactured home
multifamily dwelling
3. T F Jenna has saved a down payment and starts house-hunting.The first thing she should do is open an escrow account and deposit her earnest money . 4. Jenna has found a house she wants to buy! The title inspection reveals the following: a. a right of the water company to use a portion of the property to run pipes underground. b. the neighbor’s fence is sitting six feet over the property line into the backyard to accommodate his trampoline. c. there are property taxes secured by the property. What are each of these things called and how are they resolved? _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ 5. What is equity ? _ ______________________________________________________________________________ _ ______________________________________________________________________________ 6. What tax advantage does the federal government allow homeowners? What is it called and how does it benefit a homeowner? _ ______________________________________________________________________________ _ ______________________________________________________________________________ _ ______________________________________________________________________________ PRODUCT PREVIEW
Chapter 9 | Home is Where the Mortgage or Lease Is 166
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