Janet is considering the purchase of a condo for $150,000, partly financed by a mortgage. She is due to retire in a few years. I

Question

3 years ago

11

Janet is considering the purchase of a condo for $150,000, partly financed by a mortgage. She is due to retire in a few years. I

f she cannot make her mortgage payments on time, she is bound to suffer a _________.
A) negative equity on her property
B) reduced residual value of the property
C) higher rent ratio
D) foreclosure of her house

Business

2 answers:

andrew11 [14] · Answer 1 · 2022-03-12T10:00:02+03:00

Answer:

The best answer is"D"

foreclosure of her house

Explanation:

Foreclosure is a lawful procedure in which a bank endeavors to recover a credit from a borrower who has quit making installments to the moneylender by forcing the sale of the whatever was used as the collateral for the loan.

yarga [219] · Answer 2 · 2022-03-12T07:50:12+03:00

Answer:

D) foreclosure of her house

Explanation:

A foreclosure is a judicial procedure by which a property is repossessed by a lender from a borrower that is not able to pay his/her monthly payments. In order for a foreclosure to take place, the house or condo must have been used as collateral to a mortgage, so when the borrower fails with payments, the property is foreclosed.