Answers CMS 2026-2027 Economics and Personal Finance CREDIT RECOVERY PretestQuestion 3

3

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Question 3 • CMS 2026-2027 Economics and Personal Finance CREDIT RECOVERY

What is the best reason for homebuyers to create a budget before taking out a mortgage?

Answer

A

to figure out how long they can stay in their home

B

to set aside enough money to refinance the loan

C

to compare the value of their home with that of their neighbors

D

to plan how to pay off the money they have borrowed

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