Which of the following are true of mortgages?
A) A mortgage is a long-term loan secured by real estate.
B) Borrowers pay off mortgages over time in some combination of principal and interest payments that result in full payment of the debt by maturity.
C) Less than 65 percent of mortgage loans finance residential home purchases.
D) All of the above are true of mortgages.
E) Only A and B of the above are true of mortgages.
Correct Answer:
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