Question

What is the ultimate consequence of not paying your mortgage payments?
A. foreclosure
B. second mortgage
C. FHA loan
D. reverse mortgage

Answer 1

What is a mortgage payment?

Answer 2

low key ngl i feel like dis one is gonna be easy buh im a lil slow

Answer 3

i dont know tbh witcha

Answer 4

its basically like a monthly payment

Answer 5

What does it do though?

Answer 6

idk, google just said you pay it towards your mortgage

Answer 7

A mortgage is an agreement between you and a lender that gives the lender the right to take your property if you fail to repay the money you've borrowed plus interest. Mortgage loans are used to buy a home or to borrow money against the value of a home you already own.

Answer 8

Alright and what is a foreclosure?

Answer 9

Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan

Answer 10

So what do you think the answer could be?

Answer 11

I just searched up reverse mortgage and it said no monthly payments required so now im not so sure which one

Answer 12

What happens if someone doesn't pay their mortgage?

Answer 13

foreclosure proceedings will begin

Answer 14

So the answer is?

Answer 15

A

Answer 16

Correct! Nice job.

Answer 17

actually youre the one that helped me understand it so thx