Personal Finance Courses: Housing

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1.
As a renter, you might find that you are responsible for shoveling snow or cutting the grass.
Choose wisely. There is only one correct answer.
True. Some leases require you to do some maintenance.
2.
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.
3.
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.
4.
Why does having a cosigner on an apartment lease make a landlord more willing to rent to you than if you didn't?
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The cosigner is liable for the rent if you default on it. The cosigner is like an insurance policy on the rent.
5.
The proportion of your mortgage that goes to interest _______.
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Declines over time. Your mortgage payment consists of both principal and interest. The proportion that is interest starts out high and gradually declines over the life of the loan.