Choose the One Most Appropriate Answer for Each

question 45

Multiple Choice

Choose the one most appropriate answer for each.
-a loan wherein the lender makes monthly payments to the property owner who later repays in a lump sum

• A)adjustment period
• B)adjustable rate mortgage (ARM)
• C)blanket mortgage
• D)blended-rate loan
• E)buy-down mortgage
• F)carryback financing
• G)contract for deed
• H)equity mortgage
• I)equity sharing
• J)graduated payment mortgage
• K)interest rate cap
• L)negative amortization
• M)option
• N)overencumbered property
• O)package mortgage
• P)payment cap
• Q)reverse mortgage
• R)sale and leaseback
• S)subordination
• T)wraparound mortgage

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Definitions:

Voluntary Consent

Knowing and voluntary agreement to the terms of a contract. If voluntary consent is lacking, the contract will be voidable.

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