Growing-equity mortgages (GEMs)
A) help the borrower pay off the loan in a shorter time.
B) have such low payments in the first few years that the principal balance increases.
C) offer borrowers payments that are initially lower than the payments on a conventional mortgage.
D) do all of the above.
E) do only A and B of the above.
Correct Answer:
Verified
Q29: Retired people can live on the equity
Q30: Mortgage-backed securities
A) have been growing in popularity
Q31: Second mortgages serve the following purposes:
A) they
Q32: The Federal Housing Administration (FHA)
A) was set
Q33: A loan-servicing agent will
A) package the loan
Q35: Ginnie Mae
A) insures qualifying mortgages.
B) insures pass-through
Q36: A loan for borrowers who do not
Q37: A borrower with a 30-year loan can
Q38: The interest rate borrowers pay on their
Q39: _ issues participation certificates,and _ provides federal
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