Points Paid by the Owner of a Personal Residence to Refinance

question 60

True/False

Points paid by the owner of a personal residence to refinance an existing mortgage must be capitalized and amortized over the life of the new mortgage.

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Definitions:

Casparian Strip

A band of cell wall material found in the roots of plants, acting as a barrier to the passive flow of substances.

Xylem

The vascular tissue in plants that conducts water and dissolved nutrients upward from the root and also helps to form the woody element in the stem.

Phloem

The vascular tissue in plants that transports sugars and other metabolic products downward from the leaves.

Mycorrhizal Relationship

A symbiotic association between a fungus and the roots of a vascular plant, benefiting both organisms, often by enhancing nutrient uptake.