Which One of these is the best way to prevent foreclosure?
Which One of these is the best way to prevent foreclosure?
A). Save at least 1% of your home's purchase price annually
B). Refinance as soon as possible
C). Use a budget to live within your mean and build savings
D). Never accept an adjustable-rate mortgage
Homework Answers
2. The correct option is c "use a budget to live within your mean and build saving".
Explanation: Foreclosure refers to the process in which lender sold the asset of the borrower held by the lender as a collateral security, because borrower is unable to pay the installments to the lender. It can be prevented by more building more savings and live within your mean.
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