Which of the following is not true about interest-only mortgages?
A) Low payments in initial years (10 to 15 years) - only includes interest on borrowed amount.
B) Low payments in initial years (10 to 15 years) - only includes principal repayment on borrowed amount.
C) After initial period, payments increase such that entire loan amount is amortized by the end of 30 years.
D) None of the above is true.
Correct Answer:
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