10. If you do not pay a painter who paints your house; He/she might file a _______________________ lien against the property to secure payment.

11._________________________ is the right of redemption before foreclosure.

12. If you lose your property through foreclosure and the lender sells the property but does not recover all amounts owed, what type of judgment might the lender attempt to secure?

13. If a person earns $7,000 per month and 28% can be used for PITI, what is the maximum price house that person can afford if the following facts are true? Show all steps for full credit. a. Interest rate = 5% b. Loan term = 15 yrs. c. Annual taxes = $3,600 d. Annual insurance = $600 e. The loan is fully amortized f. They have $20,000 in their savings account and closing costs will be $4,000. Answer=_________________________________________

14. What are the three approaches to estimating value?

1.___________________________________ 2.___________________________________ 3.___________________________________