Which of the following is not characteristic of a growing-equity mortgage?

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Growing-equity mortgages typically have a fixed interest rate, but payment increases are determined on a regular schedule (such as every year) rather than being based on inflation. Additionally, increased payments go towards reducing the principal owed, which helps the borrower build equity more quickly. Finally, a growing-equity mortgage is often paid off in a shorter period of time than a conventional loan, which means that the borrower saves money on interest over the life of the loan.

Which of the Following Is Not Characteristic of a Growing-Equity