Which One of the Following Statements Correctly Relates to Reverse

question 66

Multiple Choice

Which one of the following statements correctly relates to reverse mortgages?

• A)Allow homeowners to build equity in their property.
• B)The total costs are relatively low.
• C)Borrowers only qualify if they are 65 years of age or older.
• D)Homeowners make monthly payments of principal and interest.
• E)No payments are required as long as the borrower lives in the mortgaged property.

---

Definitions:

Demand Increase

A situation where the quantity of a product or service sought by buyers rises due to factors like higher income, changes in taste, or population growth.

Certification Tests

Examinations that assess an individual's competencies in a particular field, often required to attain professional certification.

Plumbers

Professionals skilled in installing and repairing systems used for water, sewage, and drainage in plumbing systems.

Wage Rate

The compensation received by employees for their labor, typically expressed per hour, day, or unit of productivity.