HOME TERMINOLOGY QUIZLET ASSIGNMENT
Directions: In addition to the 56 terms presented in the GLOSSARY OF REAL ESTATE TERMS found at michaelbluejay.com/house, please research each of the following terms. Provide one to two sentences that carefully explain the major features of the term. You may copy & paste the information into your Quizlet assignment. Please document all research at the bottom of each Quizlet definition. You will only need to create a Quizlet vocabulary card for each of these terms; not the ones found on the website above.
1. Balloon Mortgage
2. Wrap-Around Mortgage
3. Reverse Mortgage
4. Adjustable Rate Mortgage (ARM’s)
5. Fannie Mae Loans
6. Mortgage Backed Securities
7. The “Truth in Lending Disclosure” Statement
8. “Lock-ins”
9. Equal Credit Opportunity Act
10. Fair Housing Act
11. Fair Credit Reporting Act
12. 2/1 Buy Down
13. Mortgagor
14. Mortgagee
15. Positive Amortization
16. Negative Amortization
17. Homeowners Protection Act
18. Joint Tenancy
19. Tenancy by Entirety
20. Tenancy in Common
21. Owner’s Title Insurance
22. Mortgagee’s Title Insurance
23. Real Estate Settlement Procedures Act (RESPA)
24. Unencumbered Property
25. WDO Inspection Report
26. Ad Valorem
27. Non Ad Valorem
28. Assessed Value
29. Mechanics Lien
30. Bi-Weekly Mortgage