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You will likely be paying for it the rest of your life. The loan is called a mortgage... mort-gage meaning death-pledge.

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Q: Why is buying a house a major life decision?
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What does it mean when you dream about buying a new house?

If someone is dreaming about a new house, it may mean they are not satisfied in their current location. It could also mean that they need a big change in their life.


Why is commerce considered the life blood of a nation?

commerce is the life blood of a nation because is the process of buying and selling


What happens if you misuse credit?

if you misuse credit then more than likely it will go on your credit score and affect you in life. One way is by buying a house or car. You would never ben able to purchase them kind of things if you misuse or credit


Decision making is the primary task of the manager- Comment?

Decision making is part of life in everybody's day to day life. For managers, decision making is one of the primary tasks. Management comprises of the following tasks : POSDCORB - Planning, Organizing, Staffing, Directing, Co-ordinating, Reporting and Budgeting. Management is a dynamic process. In very process, the decision of a manager has the impact on the result. Managemnet is a social organ, the decision by the manager affects the society as a whole. A manager needs to take decision on so many circumstances like under certainity and uncertainity. Every decision he makes has the consequences on the development of the company.


Whole life insurance?

It is Life insurance that will last your entire life. The premiums are paid for life, or a period of time such as 20 years, age 65 or age 100. It builds a cash or surrender value that you can access through policy loans or simply cashing in the policy. Whole Life will cost you more initially but if you want life insurance when you die, it is the best bet. Think of it as renting a house (term) or buying the house (whole life). Which is the greater asset? Whole life insurance is a type of permanent life insurance which remains in effect for the entire life of the insured, provided premiums are paid. Generally, the life insurance rate (or premium) for whole life policy is fixed. Whole life insurance policies also accrue cash value over the years which if required can be accessed by the policy holder.

Related questions

Why is buying a home a major life decision?

Buying a home is a major life decision because it is a loan or mortgage you are likely going to have for a very long time. Many mortgage terms last 20 to 30 years, and that is a long time to be committed to one investment.


Why is buying a home such a major life decision?

Buying a home is a major life decision because it involves a significant financial commitment. It typically requires a long-term commitment, involves ongoing maintenance costs, and can impact your overall financial health. Additionally, the decision to buy a home often represents stability, roots, and a sense of belonging, making it an emotional and personal choice as well.


What are the release dates for That's Life - 1968 Buying a House 1-5?

That's Life - 1968 Buying a House 1-5 was released on: USA: 22 October 1968


What major change did the Supreme Court under Earl Warren make in American life regarding the Reynolds's decision?

no


What would be considered a big event in a couple's life?

marriage, birth of a baby, anniversary, buying a house, moving, divorce


What does it mean when you dream about buying a new house?

If someone is dreaming about a new house, it may mean they are not satisfied in their current location. It could also mean that they need a big change in their life.


What is the Role of a designer in a buying house?

Interior or exterior house design is an intricate thing and it costs much if you are going to hire one as well. But if you have the budget and patience, then hiring a house designer could make your life easier.


What does a new house in a dream mean?

In dreams, the house usually represents the dreamer's life, with each room symbolizing an area of life - family life, work, education, spirituality, etc. A new house suggests a major change that amounts to a new phase of life.


How do you declare major on sorority life on Facebook?

After level 8 there will be an event under socialize and then House called "Change of Heart" after you complete that you declare you major.


Why is decision making a life- wire at every organization?

Decision making is a life wire to every organization


Where did Leona lewis get born?

Islington, London. Despite this, she has lived in Hackney all her life, as well as buying her own house in LA after winning The X Factor.


What is a social clock?

age-graded expectations for major life events such as beginning a first job, getting married, birth of the first child, buying a home, and retiring.