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Answer: All of the following statements are true regarding a short sale <u>except:</u>
- Legal costs should be lower with a short sale than with foreclosure.
Explanation:
A short sale is when an owner <u>sells his house for less money than he owes </u>in the payment of the property. The homeowner negotiates a discounted payment with his mortgage company without having to arrive with cash to cover the deficit. At the end of a short sale, the mortgage and property liens will be considered satisfied and any foreclosure process will be stopped.
Foreclosures are made by people who really do not have the money and cannot settle small fees. Although this will give you more credit deductions, <u>you will save any fees charged.</u>
D. it is a long process to gettting a bill to become a law
Absolute monarchy: total rule by king/queen
anarchy: no government
autocracy: rule by one ruler
communism: government-regulated business to eliminate class
democracy: voting for government
dictatorship: rule by someone who’s taken over
direct democracy: voting directly on laws
monarchy: rule by king/queen and parliament
oligarchy: rule by a group
rep. democracy: voting for representatives to vote on laws
republic: representatives are elected
socialism: government partially controls businesses to somewhat decrease class
The answer is - b. produce and distribute goods and services
