When adjustable mortgage rates began to increase What was the result?
Select all that apply
A)Banks towered mortgage rates to help people
B)Thousands of homes were foreclosed on
C)More mortgages were approved for customers, D)Banks tightened credit restrictions again

B) Adjustable Mortgage Rate (ARM) changes every certain period of time. When this period ends, ARM resets to whatever the prevailing interest rate is. Many borrowers who did not anticipate this, had to pay more for their monthly mortgage. As a result, banks foreclosed homes of those borrowers, who could not pay their monthly mortgage.

D) To prevent (or alleviate) the real estate crash, banks tightened their criteria for potential borrowers selection. Borrowers who most likely would not be able to sustainable make their payments, were left out.

When adjustable mortgage rates began to increase What was the result? Select all that apply A)Banks towered mortgage rates to help people B)Thousands of homes were foreclosed on C)More mortgages were approved for customers, D)Banks tightened credit restrictions again

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When adjustable mortgage rates began to increase What was the result?
Select all that apply
A)Banks towered mortgage rates to help people
B)Thousands of homes were foreclosed on
C)More mortgages were approved for customers, D)Banks tightened credit restrictions again