________Refers to the Change Thaamily Members Make from One Social

question 23

Short Answer

________refers to the change thaamily members make from one social class to the next through generations.

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Definitions:

Second Mortgages

A type of mortgage taken out on a property that is already mortgaged, generally used to access home equity.

First Mortgages

A primary lien against real property that takes precedence over all other mortgages or liens, except for statutory liens.

Assumes the Mortgage

Refers to when a person takes over the obligations of a mortgage from the original borrower under the terms of the original loan.

Fee Simple

The most complete ownership interest one can hold in real property, with the freedom to use it, sell it, or bequeath it, under the laws of the jurisdiction.