Select the term associated with making housing decisions that corresponds to each of the given descriptions. (Note: These are not necessarily complete definitions, but there is only one possible answer for each description.) Description Term This refers to the conditions attached to an offer to purchase property that is included in the contract which states that the buyer can back out if the certain reasonable conditions are not fulfilled, for example the lack of financing. This term is used to describe the situation in which the market value of a parcel of real estate is lower than the amount owed on the loan used to purchase the parcel. This policy is often provided by private insurers to protect the lenders against loss if the borrower defaults in making payments towards the loans. This is the money pledged by a potential house buyer to show his or her good faith when making an offer. This is the name given to a situation in which a home and the property on which it sits secures a $185,000 mortgage loan, and the property is sold for only $155,000.

Select the term associated with making housing decisions that corresponds to each of the given descriptions. (Note: These are not necessar complete definitions, but there is only one possible answer for each description.)