Ask Question
BusinessBusiness
13 October, 05:27

When you take out a mortgage your home becomes the collateral. true or false

+2
Answers (1)
  1. 13 October, 06:37
    0
    True

    Explanation:

    A mortgage loan is done to purchase or create real state or by existing property owners to raise funds for any purpose, in both cases, while putting a lien on the property being mortgaged.

    The collateral will be the property, because is the item pledged to guarantee the repayment of a loan.

    Foreclosure or repossession:

    The act upon which the lender will take possession and sell the property to pay off the loan in the event the borrower fails to perform the payment in terms.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “When you take out a mortgage your home becomes the collateral. true or false ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Using historical risk premiums over the 1926-2016 period as your guide, what would be your estimate of the expected annual HPR on the Big/Value portfolio if the current risk-free interest rate is 3%.
Answers (1)
List three careers and identify what the educational requirements are for each career.
Answers (2)
Bravo Unlimited provided accounting services, valued at $7,500, to its clients during the month of January 2016. Formal bills are sent to clients during the first week following the month in which services are provided.
Answers (1)
1. What are some ways you think Panera Bread earns the trust of its public?
Answers (1)
Sam, Sue, and Shelley formed a partnership. Sam received a 50 percent interest in the partnership in exchange for land with an adjusted basis to him of $30,000 and a fair market value of $50,000.
Answers (1)
New Questions in Business
On July 1, 2013, Farm Fresh Industries purchased a specialized delivery truck for $126,000. At the time, Farm Fresh estimated the truck to have a useful life of eight years and a residual value of $30,000.
Answers (2)
Based on this which component of the sarcomere is actually being moved when the sarcomere contracts and relaxes
Answers (1)
Which of the following is the best example of direct-response print advertising? a. An advertorial A mailing from a travel agency that asks you to explain why your spouse deserves a dream vacation b. The opening Web page for ebates c.
Answers (1)
QS 9-5 Allowance method for bad debts LO P2 Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $2,000 account of a customer, C. Green. On March 9, it receives a $1,500 payment from Green. 1.
Answers (1)
More and more companies are increasing their interactive marketing budgets. most of this investment will be made in:
Answers (1)
Home » Business » When you take out a mortgage your home becomes the collateral. true or false
Sign Up Forgot Password?