Which of the following is not true with respect to a growing-equity mortgage?
A) It is similar to a graduated-payment mortgage.
B) It allows borrowers to initially make small payments on the mortgage.
C) It involves increased payments, on a graduated basis, over the first five to ten years of the mortgage.
D) It involves payments that level off after the first five to ten years of the mortgage.
E) All of the above are true regarding a growing-equity mortgage.
Correct Answer:
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