When Refinancing Your Mortgage,you Should Consider

question 95

Multiple Choice

When refinancing your mortgage,you should consider

• A)the interest rates of the old and new mortgages.
• B)the years you expect to remain in the home.
• C)any prepayment penalties on the old mortgage.
• D)closing costs of the new mortgage.
• E)all of these.

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Definitions:

Explicit

Referring to knowledge or information that is fully and clearly expressed or demonstrated, leaving no room for confusion or doubt.

External

Relating to, situated on, or connected with the outside or an outer part.

Orbital Frontal Cortex

A region of the brain located in the frontal lobes that is involved in the complex process of decision making and moderating social behavior.

Ventromedial Cortex

A region of the brain associated with decision-making, emotional responses, and the processing of reward and fear.