Which of the Following Statements Concerning Shared Appreciation Mortgages Is

question 133

Multiple Choice

Which of the following statements concerning shared appreciation mortgages is false?

• A)Even when the value of the home declines,the lender receives a minimum percentage of your equity in the home.
• B)They typically have a lower contract rate than traditional home mortgages.
• C)They typically allow you to qualify for a more expensive home.
• D)If you have not sold the home when the mortgage matures,you still have to pay the lenders' share of the home's appreciation.

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Definitions:

Workers' Compensation

A form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue their employer for the tort of negligence.

Crushing Injury

A type of injury where a part of the body is subjected to a high degree of force or pressure, often resulting in compression and significant damage to the area.

Net Earnings

The amount of income left after deductions, such as taxes and social security charges, have been subtracted from gross income.