asked 2.3k views
17 votes
Failure to pay on mortgage is called _____.

ANSWER: D. default

A. closing
B. foreclosure
C. amortization
D. default

asked
User Deloris
by
7.9k points

2 Answers

12 votes

Answer:default

Step-by-step explanation:

Failure to pay on mortgage is called _____. ANSWER: D. default A. closing B. foreclosure-example-1
answered
User Supraja Ganji
by
8.7k points
5 votes

Answer:

(D) Default

Step-by-step explanation:

When you fail to pay your mortgage it will be defaulted. Only then will the owner put the property in foreclosure. Typically foreclosure isn't put in effect until after about three months of missed payments.

answered
User Hdkrgr
by
8.3k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.