Mortgage Prepayments Are Best Defined by Which One of the Following

question 4

Multiple Choice

Mortgage prepayments are best defined by which one of the following?

• A)reducing the mortgage according to a schedule over the life of the mortgage
• B)paying a monthly mortgage payment before the regular due date
• C)paying off the principal faster than required by the amortization schedule
• D)paying a cash deposit when purchasing a property
• E)paying each mortgage payment as scheduled

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Definitions:

Passion

A powerful or compelling emotion or feeling, such as love or hate, that can drive individuals to act.

Relationships

Connections or associations between people, which can be emotional, social, professional, or familial.

Self-actualization

The realization or fulfillment of one's talents and potentialities, especially considered as a drive or need present in everyone.

Needs Hierarchy

A theory in psychology, proposed by Abraham Maslow, which posits that people are motivated to fulfill basic needs before moving on to other, more advanced needs.