What Is One Condition a Person Must Satisfy to Qualify

question 52

Multiple Choice

What is one condition a person must satisfy to qualify for means-tested welfare programs (e.g., TANF, Medicaid, food stamps) that does not apply to tax expenditures like the home mortgage interest deduction?

• A)regular recertification
• B)voter registration
• C)U.S. citizenship
• D)regular church attendance

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Definitions:

Default Rates

The percentage of borrowers who fail to repay their loans according to the terms of their agreements.

Foreclosure Rates

The percentage of properties undergoing the process of legal repossession by lenders due to borrowers' failure to make mortgage payments.

Lending Standards

Regulations and criteria set by financial institutions to determine the qualification of borrowers for loans.

Alt-A Loans

Loans extended with little documentation or verification of the borrowers’ income, employment, and other indicators of their ability to repay. Because of this poor documentation, these loans are risky.