A Foreclosure Happens When

question 91

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 borrowers who have quit making payments 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:

Standardization

The process of implementing and developing technical standards to ensure consistency, efficiency, and quality across processes, products, or systems.

Organizational Strategies

Comprehensive plans that outline how a business or organization will achieve its goals and respond to challenges in its internal and external environment.

Environmental Uncertainty

The amount and rate of change in the organization’s environment.

Organizational Design

The process of constructing and adjusting an organization’s structure to achieve its business strategy and goals.