A "payment cap"
A) limits interest rate increases and decreases on an adjustable-rate loan.
B) limits interest rate increases on adjustable-rate loans.
C) limits interest rate decreases on adjustable-rate loans.
D) limits neither an increase or a decrease in the interest rate on adjustable-rate mortgages.
Correct Answer:
Verified
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A)the buyer
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Q77: Escrow accounts
A)are required on all conventional financing.
B)held
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A)takes
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A)reflects current credit conditions
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