Asked by Elena Valenzuela on May 27, 2024
Verified
A homeowner who owes more on the mortgage than the mortgaged property is worth is referred
To as owning a home that is
A) "sequestered."
B) "underwater."
C) "in the red."
D) "in the black."
Underwater
Located or occurring beneath the surface of the water; can also metaphorically refer to being overwhelmed, as in debt or pressure.
Mortgage
A loan specifically used for the purchase of real estate, where the property itself serves as collateral for the loan.
Mortgaged Property
Real estate that is secured by a mortgage loan, meaning the lender has the right to seize the property if the borrower fails to make payments.
- Gain insight into the reasons and outcomes of the housing crisis during 2007 and 2008.
Verified Answer
Learning Objectives
- Gain insight into the reasons and outcomes of the housing crisis during 2007 and 2008.
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