If homeowners with no savings purchased a $250,000 home using a zero-down, interest-only mortgage, and the value of the home subsequently fell to $200,000, in order to sell the house and move to another city, the homeowners might be forced to
A) pay off their car loan early.
B) move into the YMCA.
C) declare bankruptcy.
D) buy a second home in their new city without first selling their first home.
Correct Answer:
Verified
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