Name: Block: EverFi – Module 7 – Renting/Leasing versus Owning I. Difference between owning and renting: a. Define Owning: b. Define Renting: c. Other Terminology: i. Depreciating Asset: ii. Appreciating Asset: iii. Mortgage: iv. Lease: d. What are the major differences between owning and renting? i. ii. iii. II. Mortgages – Terminology a. Fixed Rate: b. Adjustable Rate: c. Balloon Payment: d. Default: e. Foreclosure: III. Leasing vs. Buying a Car a. What is a lease? b. When should you buy? c. When should you lease? d. What are three other costs to owning or leasing a car? i. ii. iii. IV. Housing Options: a. Explain the basics of buying a house: b. Explain the basics of renting: c. What are 3 Advantages of owning? i. ii. iii. d. What is a big disadvantage of owning? i. e. What is a major advantage to renting? i. f. What are 2 major disadvantages to renting? i. ii. g. Is there another living option? What is it?
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