Question: This question has two parts; be sure to answer both. First, explain the contingency viewpoint, explaining what it means. Next, suppose you are a mortgage

This question has two parts; be sure to answer both.

First, explain the contingency viewpoint, explaining what it means.

Next, suppose you are a mortgage lender who oversees a large number of personal home loans. Typically, you foreclose on mortgages when four payments have been missed. During a national crisis, about a third of your borrowers are unable to make payments for several months. If you adopt the contingency viewpoint, what is your response? What would your response be if you do not believe in the contingency viewpoint?

This question has two parts; be sure to answer both. First,

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