Baudett_Module 10.docx - Baudett Module 10 Review Questions 1 Payday loans and usury 2 E 3 Foreclosures are bad for borrowers because the homeowner can

Baudett_Module 10.docx - Baudett Module 10 Review Questions...

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Baudett – Module 10 Review Questions 1. Payday loans and usury. 2. E 3. Foreclosures are bad for borrowers because the homeowner can no longer live in the home and if the home is auctioned off, the borrower may still be responsible for the remaining balance if the house is sold at a lower amount than what is owed. Foreclosures are also bad for lenders because typically lenders lose money on foreclosures as buyers pay less for foreclosures. Also, foreclosures generate additional fees such as legal fees, sheriff’s fees, etc. that the lender is
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  • Spring '10
  • Hamilton
  • Debt, Default, Payday loan, foreclosures

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