All of the Following Reasons Have Been Cited to Explain

question 103

Multiple Choice

All of the following reasons have been cited to explain the growth of elderly single-person households EXCEPT

• A) increased old-age benefits.
• B) decreased old-age benefits that make assisted living unaffordable.
• C) increased home ownership.
• D) more availability of community support.

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Definitions:

Collateral

An asset or property that a borrower offers to a lender as security for a loan, which can be seized if the loan is not repaid.

Attachment

The legal process of seizing property to secure the satisfaction of a judgment.

Securitization

The process of bundling securities and then selling them to big investors.

Balloon-Payment Mortgage

A balloon-payment mortgage is a type of loan that features low initial payments but ends with a large lump-sum payment due at the end of the mortgage term.