Veronica Has Had a Variable-Rate Mortgage for Several Years

question 41

Multiple Choice

Veronica has had a variable-rate mortgage for several years. Unfortunately, the monthly mortgage payments have not covered her interest owed. As a result, her home equity is decreasing because of

• A) ARM.
• B) FHA loan.
• C) Negative amortization.
• D) Buy-down.
• E) VA loan.

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