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Posted by mfsomers
Asked on January 11, 2016 3:18 pm
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I cover information about mortgages, for example: the length of years, amount of interest paid over the life span of the loan, and saving for a down deposit. Home owners insurance is also cross referenced during this unit.

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Posted by bgadapee
Answered on January 12, 2016 7:49 am
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I agree with answer above – it is more about the loan and down payment

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Posted by jjlucero
Answered on January 13, 2016 8:36 am
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Agreed with the above. I also discuss the advantages of being an owner rather than a renter.

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Posted by AShupe
Answered on January 14, 2016 5:38 am
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I teach a “Housing” section which covers renting, reading a lease agreement, types of mortgages, calculating mortgage payment, amortization, total interest paid over the life of the loan, and renters vs homeowners insurance. I, however, have a year-long personal finance class, which allows for more detail.

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Posted by Amanda Volz
Answered on January 14, 2016 7:16 am
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You could also include picking a realtor and mortgage lender you like. Also, the CFPB (Consumer Financial Protection Bureau) offers a great website you could send your students to – http://www.consumerfinance.gov/owning-a-home/

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Posted by SashWhitGrabby
Answered on February 2, 2016 11:28 am
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NGPF’s newest unit, Types of Credit (http://nextgenpersonalfinance.org/curriculum/types-of-credit-lessons/), incorporates the study of mortgages and includes two of the learning objectives described above: understanding the various elements of a mortgage (term, interest rate, principal) and the pros/cons of renting vs. owning.

Another idea comes from one of the winners of the NGPF Best Activity contest: Kate Ivers, a Business Education teacher at Rockford High School in Rockford, Minnesota, created a Housing Simulation (https://drive.google.com/file/d/0B7wBayeobK4fSk9DWlFRUGRfcWlyTXJkVDhMVlFfRXpxTF8w/view) in which students go through the rigors of the mortgage application process with a local banker and once approved get to build a model of their dream home, but only after creating a materials list.

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Posted by Tim Ranzetta
Answered on February 3, 2016 8:03 pm
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