That's correct!

Correct! These borrowers are thought to be more susceptible to foreclosure. This is also called being “upside down” for being in “negative equity.”

That's correct!

Correct!  Your job is to explain the trends even when indicators are telling different stories. Showing “conflicting signals” is not a crime and will help your readers stay fully informed.

Correct! Although commonly used interchangeably, there are differences between the two terms. Pre-qualified is the first step to becoming pre-approved and merely gives the borrower an idea of what amount they might be pre-approved for. Being pre-approved can speed up the buying process when house shopping and let buyers know what they can reasonably search for based on their financial situation.

Correct! A real estate agent is a person who sells or rents housing or other buildings for clients. They do not have to be a Realtor (note the capital R, as the word is trademarked). Realtors are real estate agents who are members of The National Association of Realtors (also spelled in all capital letters as “REALTOR”).

Correct! Everybody needs a roof over their head – even local businesses.

That's right!

That's right! Although there are a lot of good tips in this chapter, you should always refer back to this one when writing a story.