Which of the Following Is NOT True with Respect to a Growing-Equity

question 58

Multiple Choice

Which of the following is NOT true with respect to a growing-equity mortgage?

• A)It is similar to a graduated-payment mortgage.
• B)The monthly payments on the mortgage are initially small.
• C)The monthly payments increase throughout the life of the mortgage.
• D)The monthly payments increase for the first 5 to 10 years of the mortgage and then level off.

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