Second Mortgages Serve the Following Purposes

question 47

Multiple Choice

Second mortgages serve the following purposes:

• A) they give borrowers a way to use the equity they have in their homes as security for another loan.
• B) they allow borrowers to get a tax deduction on loans secured by their primary residence or vacation home.
• C) they allow borrowers to convert their conventional mortgages into GEMs.
• D) all of the above.
• E) only A and B of the above.

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Definitions:

Serous Membrane

A thin membrane lining certain internal cavities of the body, producing a lubricating fluid to reduce friction between organs.

Pericardium

A double-layered membrane surrounding the heart, protecting it and anchoring it to the surrounding walls.

Abdominopelvic Cavity

A body cavity comprising both the abdominal and the pelvic cavities, housing major organs of digestion, reproduction, and excretion.

Anterior Body Cavity

The front part of the body cavity that houses organs in the thoracic and abdominopelvic regions.