value: 3\nwhen banks take back someones home because the owner could no longer pay their monthly mortgage…

value: 3\nwhen banks take back someones home because the owner could no longer pay their monthly mortgage payment, it is called:\n a. forecolsure\n b. mortgage\n c. housing bubble\n d. bailout

value: 3\nwhen banks take back someones home because the owner could no longer pay their monthly mortgage payment, it is called:\n a. forecolsure\n b. mortgage\n c. housing bubble\n d. bailout

Answer

Brief Explanations:

Foreclosure is the legal process by which a lender takes possession of a property when the borrower defaults on mortgage payments. A mortgage is the loan itself, a housing - bubble is a rapid increase in housing prices followed by a collapse, and a bailout is when the government or another entity provides financial assistance to a failing company or industry.

Answer:

A. Foreclosure