THE GREAT DEPRESSION 1929 1940
THE DUST BOWL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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buying a house with credit
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losing everything because of not paying bills
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only losing your pets
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buying something with cash
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Detailed explanation-1: -The significant impacts for homeowners include the loss of Down Payment, Mortgage Loan Payments, and of the Equity in the home. Through foreclosure, homeowners lose the down payment made at the time of purchase and the mortgage loan payments they made during the ownership of their home.
Detailed explanation-2: -Foreclosures often result from a loan default when the borrower stops making payments.
Detailed explanation-3: -A foreclosure is the legal process where your mortgage company obtains ownership of your home (i.e., repossess the property). A foreclosure occurs when the homeowner has failed to make payments and has defaulted or violated the terms of their mortgage loan.
Detailed explanation-4: -Loan foreclosure is the full repayment of your remaining loan amount in one single payment instead of paying multiple EMIs. If you have surplus funds that you would like to use to repay your ongoing personal loan, you can opt for the personal loan foreclosure facility.