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18. Posy’s unmarried friend Cozy buys out Rosie’s interest. Then she meets the man of her dreams and gets married. He goes around town bragging that he owns a big apartment building. Does he have a co-ownership interest by virtue of the fact that he married Cozy? _ ____________________________________________________________________ _ ____________________________________________________________________ 19. T F Debts incurred pre-marriage are the equal responsibility of both spouses after marriage. 20. Andy, Belinda, Carlos and Dana love road trips, so they co-borrowed $75,000 to buy an RV. They agreed that each would be responsible for 1/4 of the monthly loan payment. Dana was shocked when she couldn’t qualify for a mortgage because her debt-to-income ratio was too high. Her credit report shows she is liable for repayment of a loan in the amount of $75,000. Could this be right? Explain: _ ____________________________________________________________________ _ ____________________________________________________________________ PRODUCT PREVIEW
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THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY 327
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