| A | B |
|---|
| dormitory | an on-campus building that contains many small rooms that colleges rent to students |
| efficiency apartment | studio apartment - an apartment with one large room that serves as the kitchen, living room, and bedroom, plus a bathroom |
| eviction | the legal process of removing a tenant from rental property |
| fee | a non-refundable charge for a service |
| landlord | the owner of rental property |
| lease | a written agreement that allows a tenant to use property for a specified time period and rent |
| security deposit | a refundable amount paid in advance to protect the owner against damage or non-payment |
| tenant | the person who rents property from a landlord |
| abrasives | coarse materials that scour or rub away a surface |
| dealer add-ons | high-price, high-profit dealer services that add little or no value |
| lemon | a car with substantial defects that the manufacturer has been unable to fix after repeated attempts |
| oxidize | permanently lose its color and shine because of chemical reaction with the air |
| polishing compound | a substance that can smooth out surface scratches, scuffs, and stains |
| pre-approval | Finding out how much money you will be qualified to borrow before visiting car dealers - separates financing from the processo f negoitating the price of the car |
| sticker price | manufacturer's suggested retail price (MSRP) - the price shown on the tage in the car's window |
| upholstery | the seat covering material |
| vehicle emission test | a test to verify that a vehicle meets the minimum clean-air standards |
| VIN | Vehicle Identification Number - a unique number that identifies a vehicle |
| Advantages of Home Ownership | (1) Increased value and equity (2)Enhanced quality of life (3)Tax Savings |
| mortgage | a loan to purchase real estate |
| market value | highest price that the property will bring on the market--what a ready and willing buyer would agree upon as a price |
| tax shelter | a legal write-off that reduces your liability (owning real estate) |
| discount points | used to lower mortgage interest rate |
| Kinds of closing costs | credit report fee, title search fee, loan orgination fee, recording fee |
| costs of home ownership | down payment, mortgage payment, closing costs, property taxes, property insurance, depreciation, loss of income, utilities, CC&R, zoning laws, maintenance and repairs |
