Match the following terms with their definitions.
-Graduated payments
A)Breakdown of principal and interest
B)One-time up-front payment
C)Mortgage payments rise in later years
D)Loan
E)Not fixed
F)Can prevent foreclosures
G)26 payments per year

Question

Quizplus · Accepted Answer

Graduated payments refer to a mortgage payment structure where the payments start lower and increase over time, typically to accommodate expected increases in the borrower's income.

Match the Following Terms with Their Definitions