Answer Key
Mortgage – New Vocabulary Practice
Fill in the missing words. Choose one of the words below. Sometimes you need to put them in the right form.
- SUBPRIME
- FORECLOSED
- INTEREST
- FRAUD
- ADDITION
- EQUITY
- WISELY
- BET
- ACCURACY
- SKYROCKETED
- In [addition] to high interest rates, the prices for homes dropped dramatically.
- We need to act [wisely] . We should not make too many mistakes.
- A homeowner's [equity] is the difference between the market value of their house and the amount of mortgage debt it is carrying.
- [subprime] borrowers were the people who got a mortgage although they were not ready for it.
- Madoff's [fraud] has apparently shook the world. It was the world's biggest financial fraud to date.
- As a result, home prices [skyrocketed] and many people made a lot of money.
- Compared to 2004, [interest] rates were very low.
- If something seems like a sure [bet] , it means you will probably win.
- We need to check the report for [accuracy] .
- Finally, the bank [foreclosed] on their house in Dallas.