Chapter 9

3. The value of the home minus the amount you still owe on the loan.
8. The ability to move easily.
11. Meeting of a seller a buyer and a lender of funds to complete a transaction
12. A person who pays for the right to live in a residence owned by someone else
14. A loan based on the difference between the current value of the home and the amount the borrower owes.
15. A mortgage with an interest rate that increases or decreases during the loan.
17. An amount of money payed by a tenant to the owner of a property to guard against any financial loss or damage that the tenant might cause.
18. A legal document that defines the conditions of the rental agreement between the tenant and the landlord.
19. The reduction of a loan balanced through payments made over a period of time
20. An account where the money is held until it can be delivered to a designated party.

1. A special policy that protects the lender in case a buyer cannot make payments.
2. Mortgage with a fixed interest rate and a fixed schedule of payments
4. A type of insurance that covers the tenants personal property as a result of damage or theath.
5. To obtained a new mortgage to replace an existing one.
6. A type of insurance that protects the buyer if problems with the title are found later.
7. Extra charges that must be paid by a buyer to a lender in order to get a lower interest rate.
9. The person who owns the property that is rented
10. A long term loan extended to someone who buys property.
13. An investment of the current value of a property
16. Official document transferring ownership from seller to buyer