Quiz: Financial Considerations

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Question 1 of 4

1. Question

You just got paid, and you’re standing at a financial crossroads: Pay the mortgage, upgrade your phone, or book that “well-deserved” weekend trip. You tell yourself one late payment won’t hurt… right? What’s the actual truth?

A) You can just refinance later and erase the mistake. No harm, no foul.A single missed payment can tank your credit score and haunt you for up to seven years—so yeah, it’s a big deal.

B) No worries, you can just pay double next month and call it even.

C) Your lender will totally understand—it’s not like they have systems in place to penalize late payments or anything.

D) A single missed payment can tank your credit score and haunt you for up to seven years—so yeah, it’s a big deal.

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Question 2 of 4

2. Question

It’s 2 AM, and you’re deep in a Zillow black hole, imagining life in a five-bedroom mansion with a kitchen straight out of a cooking show. But before you start picturing your new life, what’s the real first step to actually making homeownership happen?

A) Keep scrolling, screenshot your dream home, and manifest it into existence.It’s 2 AM, and you’re deep in a Zillow black hole, imagining life in a five-bedroom mansion with a kitchen straight out of a cooking show. But before you start picturing your new life, what’s the real first step to actually making homeownership happen?

B) Check your credit score, assess your savings, and set a budget—because daydreams don’t pay mortgages.

C) Call an agent first—why not start house hunting before figuring out the money part?

D) Get pre-approved for the biggest loan possible. If the bank says you can afford it, who are you to argue?

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Question 3 of 4

3. Question

Life happens, and suddenly, you’re behind on your mortgage. Your lender sends a Notice of Default—what’s your best move to avoid foreclosure?

A) Ignore it and hope the problem magically disappears—denial is a strategy, right?

B) Call your lender ASAP to discuss options like loan modification, refinancing, or forbearance before things spiral out of control.

C) Start selling everything you own to scrape together the payment, including that vintage lava lamp you were weirdly attached to.

D) Take a deep breath and wait for the bank to negotiate with you—surely they don’t want to go through the hassle of foreclosing.

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Question 4 of 4

4. Question

You budgeted for your mortgage, utilities, and even that fancy new couch… but then your AC dies in the middle of summer, and suddenly you’re questioning all your life choices. Which of the following is the biggest mistake first-time homebuyers make when it comes to unexpected costs?

A) Assuming that once you close on a home, the major expenses are behind you.

B) Keeping an emergency fund of at least 1% of the home’s value for repairs, because things will break.

C) Reading the home inspection report carefully and budgeting for future repairs based on what’s flagged.

D) Accepting that homeownership is just a never-ending money pit and embracing the chaos.

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Quiz: Financial Considerations

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