The correct option for the given question is forgiving the mortgage and the loan debts held by the farmers
A mortgage is the type of the loan used to purchase or to maintain a home, land, or the other types of the real estate. The borrower agrees to pay the lender over the time, typically in a series of the regular payments that are basically divided into the principal and the interest. The property then serves as the collateral to secure the loan. A borrower must have to apply for the mortgage through their preferred lender and to ensure that they meet the several requirements, including the minimum credit scores and the down payments. The Mortgage applications go through a rigorous and underwriting process before they reach the closing phase. the Mortgage types vary based on the needs of the borrower, such as the conventional and the fixed-rate loans.
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