Java Games: Flashcards, matching, concentration, and word search.

Chapter 34

Adjustable rate mortage (ARM)A mortgage for which the interest rate is raised or lowered periodically depending upon the current interest rate being charged by lenders.
appraiserOne who is trained to estimate the value of property and who can give an official report on its value.
appreciationA general increase in the value of property that occurs over a period of time.
assessed valueThe amount that your local government determines your property to be worth for tax purposes.
collectiblesItems of personal interest to collectors purchased in anticipation of an increase in value in the future.
condominiumAn individuallly owned unit in an apartment-like building or complex where maintenance and yard work are normally taken care of for a service fee.
equityThe difference between what your house and property are worth and the amount owed on the mortgage.
fixed rate mortageA traditional mortgage with an interest rate that does not change during the life of the mortgage.
futuresA contract for a commodity purchased in anticipation of higher market prices in the near future.
mortageA legal document giving the lender a claim against the property if the principal, interest, or both are not paid as agreed.
real estateLand and anything that is attached to it.
RealtorSomeone who is trained and licensed to help with the buying and selling of real estate.
speculative investmentAn investment that has an unusuallly high risk.
spot priceThe price quoted for precious metals in the world markets.
upkeepThe cost of maintaininig your property in good condition.

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