Sally and Ed each own property with a fair market value less than the amount of the outstanding mortgage on the property and also less than the original cost basis.They each were able to convince the mortgage holder to reduce the principal amount on the mortgage.Sally's mortgage is on her personal residence and Ed's mortgage is on rental property he owns.
Definitions:
Attribution
The process by which individuals explain the causes of behavior and events, either attributing them to internal dispositions or to external situations.
Social Perception
The process by which individuals form impressions of and make inferences about other people and social situations.
Physiological Response
Automatic reactions of the body to a stimulus, such as changes in heart rate, breathing, or skin temperature.
Cognitive Evaluation
The process of making judgments, forming opinions, or assessing the value or reality of a situation or set of information based on cognitive processes.
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