Personal Finance Courses: Housing

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1.
Tenants renting apartments are liable for _______.
Choose wisely. There is only one correct answer.
None of the above. Tenants do not pay any of these, though their landlords do pass some of the costs onto them indirectly through their rent.
2.
When you make a mortgage payment, all of it goes toward interest.
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False. It's a mix of both, though the proportion that is interest declines over the life of the loan.
3.
Renting a home is _______ cheaper than owning a home.
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Often. Often, renting is cheaper. But sometimes, it is more expensive. It depends on a lot of factors.
4.
Whom does title insurance protect?
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You and your lender. Title insurance protects you and your lender in case you discover afterward that someone else could lay claim to the house.
5.
Renter's insurance exists to protect whose belongings?
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The renter's. Renters buy insurance to protect themselves from the financial effects of losing their belongings.