Which of the following are true of mortgages?
A: A mortgage is a long-term loan secured by real estate
B: A borrower pays off a mortgage in a combination of principal and interest payments that result in full payment of the debt by maturity
C: Over 72 percent of mortgage loans finance residential home purchases
D: All of the above are true of mortgages
A: A mortgage is a long-term loan secured by real estate
B: A borrower pays off a mortgage in a combination of principal and interest payments that result in full payment of the debt by maturity
C: Over 72 percent of mortgage loans finance residential home purchases
D: All of the above are true of mortgages
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- Which of the following is true of mortgage interest rates? A: Mortgage rates are closely tied to Treasury bond rates, but mortgage rates tend to stay below Treasury rates because mortgages are secured with collateral. B: Longer-term mortgages have higher interest rates than shorter-term mortgages. C: Interest rates are higher on mortgage loans on which lenders charge points. D: All of the above are true. E: Only A and B of the above are true.
- According to the passage, a home mortgage plan ______. A: is similar to a mortgage loan B: is absolutely different from a mortgage loan C: has more benefits than a mortgage loan D: None of the above is correct.
- They'll never get a mortgage; they're bad ______. A: risks B: mortgages C: finance
- Which of the following is true of a mortgage ______. A: The mortgagee retains possession of the mortgaged property B: The mortgagor retains possession of the mortgaged property C: The lender acquires the right to retain the mortgaged property until the mortgage debt is repaid D: None of the above
- Which of the following is an example of an intermediate-term debt? () A: a fifteen-year mortgage B: a sixty-month car loan C: a six-month loan from a finance company D: a thirty-year E: Treasury bond