12
QuizMultiple Choice

Mortgages and Home Ownership — Unit test

Question 12 • Financial Literacy (WMHS) - Semester 1

If a borrower provides collateral and fails to repay the loan,

Answer
A
the borrower may cancel the loan to get the collateral.
B
the lender can sell the collateral to cover losses.
C
the borrower must buy the collateral back.
D
the lender keeps the collateral in case of late payment.
Previous
Next