question 11 (4 points)\nwhat is a foreclosure?\n a) a reduction of mortgage payments\n b) when the financial…

question 11 (4 points)\nwhat is a foreclosure?\n a) a reduction of mortgage payments\n b) when the financial institution takes ownership of a property when the homeowner fails to make mortgage payments\n c) an extension of a loans term\n d) the refinance of a loan

question 11 (4 points)\nwhat is a foreclosure?\n a) a reduction of mortgage payments\n b) when the financial institution takes ownership of a property when the homeowner fails to make mortgage payments\n c) an extension of a loans term\n d) the refinance of a loan

Answer

Answer:

b. When the financial institution takes ownership of a property when the homeowner fails to make mortgage payments