As a result of the financial crisis of 2008-2009,some financial institutions accepted a(n)________ arrangements in which the lender accepted the proceeds of the sale of a home as full payment on the debt owed even though the proceeds were less than the debt owed.

Question

Quizplus · Accepted Answer

The given scenario refers to a short-sale arrangement, where the lender accepts the sale proceeds of the property as full payment on the debt owed, even though the amount is less than the actual debt. This allows the borrower to avoid foreclosure and any further financial obligations related to the property.

As a Result of the Financial Crisis of 2008-2009,some Financial