A Foreclosure Happens When

question 21

Multiple Choice

A foreclosure happens when:

• A)the rates of interest prevalent in the housing market are extremely volatile, forcing the lender to demand additional collateral from the borrower.
• B)the lenders attempt to recover loan balances from the insolvent borrowers by forcing the sale of the home pledged as collateral.
• C)the borrowers repay their housing loan well before the estimated closing period of the loan.
• D)the value of a house is higher than the loan taken on the property.
• E)the borrower is planning to restructure the loan taken for making mortgage payments.

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Definitions:

Hyaline

A type of smooth, translucent cartilage found in various parts of the body such as the nose, trachea, and larynx, providing support with some flexibility.

Elastic Fiber

Protein fibers found in the extracellular matrix of connective tissue, giving elasticity and resilience to tissues like skin, lungs, and blood vessels.

Irregular Bone

Bones characterized by their complex shapes, such as vertebrae and certain skull bones, serving various protective and supportive roles.