Which One of the Following Statements Correctly Applies to an Unseasoned

question 12

Multiple Choice

Which one of the following statements correctly applies to an unseasoned mortgage?

• A)The mortgage is less than 30 months old.
• B)The mortgage is still held by the original mortgage company.
• C)The mortgage has at least one term or provision that is uncommon to most mortgages.
• D)The mortgage has an adjustable interest rate that has not been adjusted to date.
• E)The mortgage was obtained by a first-time home owner.

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Definitions:

Synchronous Tools

Digital platforms or software that allow real-time communication and collaboration among users.

Collaboration

The action of working with others to produce or create something.

Microsoft Outlook

A personal information manager software system from Microsoft, primarily used as an email application but also includes calendar, task manager, contact manager, note taking, journal, and web browsing.

Electronic Calendar

A digital version of a calendar, used for organizing, scheduling, and managing events and appointments electronically.