When Personal Property Items Such as a Range,refrigerator,and Household Furnishings

question 5

Multiple Choice

When personal property items such as a range,refrigerator,and household furnishings may be included in the home loan,which usually carries a longer term and lower interest rate than if the borrower had financed these items with a separate consumer loan,this is referred to as a:

• A)Purchase-money mortgage (PMM)
• B)Package mortgage
• C)Home equity loan
• D)Reverse mortgage

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Definitions:

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