An Option ARM Mortgage Gives the Borrower the Option to Reduce

question 10

True/False

An option ARM mortgage gives the borrower the option to reduce the monthly interest being charged on the mortgage.

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Definitions:

Macroeconomic

Relating to the branch of economics that studies the behavior and performance of an economy as a whole, including topics like unemployment, GDP, and inflation.

High-priced

Relating to items or commodities that are sold at a price above the average market value.

Customer Demand

The quantity and type of goods or services that consumers are willing and able to purchase at various prices during a certain period of time.

Human Resources

The department within a business that deals with the recruitment, management, and direction of people who work in the organization.