Select the correct answer.
How can a poor housing market put home buyers in a financially unstable position?
A.
Changing property values means it’s easier to find homes with low rental costs.
B.
When the home value decreases, property taxes and insurance costs increase.
C.
Houses are valued lower than their purchase prices, so the home equity decreases.
D.
Home buyers lose all tax benefits and tax incentives when the housing market goes down.
E.
Mortgage payments can increase even though the home value decreases.
C.
Houses are valued lower than their purchase prices, so the home equity decreases.
Select the correct answer.
Which item(s) are tax deductible for consumers who are buying a home?
A.
down payment
B.
mortgage property appraisal and inspection costs
C.
closing fees and title costs
D.
mortgage interest and property taxes
E.
insurance payment
D.
mortgage interest and property taxes
Select the correct answer from the drop-down menu.
Read about Wanda’s complaint to the FDIC. What action did the regulator most likely take in this case?
The FDIC found out that a company misreported information to a credit scoring company about Wanda. Wanda contacted the company and asked them to fix the problem. The company refused to talk about it and referred her back to the credit company. The FDIC declares the company has violated the
.
Fair Credit Reporting Act
Select the correct answer.
Why is it important to carefully read and understand a financial institution’s policies when opening a savings account?
A.
It helps you calculate how much money you can have in your account.
B.
It helps you understand how money transfers work.
C.
It helps you identify any hidden fees or penalties associated with withdrawals and transfers.
D.
It helps you determine potential investment tools for retirement plans.
E.
It helps you determine the maturity date associated with your basic savings account.
C.
It helps you identify any hidden fees or penalties associated with withdrawals and transfers.