Which of the Following Is the Primary Reason That a Mortgage

question 43

Multiple Choice

Which of the following is the primary reason that a mortgage lender may allow a rate modification to an existing mortgage holder with a fixed-rate mortgage?

• A) The lender receives a one-time fee.
• B) The borrower may obtain a new mortgage from another lender.
• C) The borrower receives a lower interest rate.
• D) The borrower does not have to pay closing costs.

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Definitions:

Resilient

The ability of an individual to recover quickly from difficulties or adapt to challenging situations with flexibility.

Historical Factors

Elements or circumstances from the past that influence present conditions or situations.

Economic Factors

External elements that influence the performance of economies, including inflation rates, employment levels, and gross domestic product (GDP).

Cultural Factors

Elements of human society that influence behavior, beliefs, and values, including language, norms, and traditions.