Which of the Following Is Most Accurate About Second Mortgages

question 43

Multiple Choice

Which of the following is most accurate about second mortgages?

• A)Most people have two mortgages on their homes.
• B)The primary mortgage is for the down payment and the secondary mortgage is the main mortgage.
• C)A home equity loan is commonly a second mortgage.
• D)Second mortgages are last resort financing.

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Definitions:

Bipolar Disorder

An emotional health issue distinguished by significant mood oscillations, ranging from high (mania or hypomania) to low (depression) states.

Manic

Refers to an abnormally elevated mood state, which may include symptoms like increased activity, energy levels, or euphoria, often seen in bipolar disorder.

Depression

A psychiatric disorder characterized by a lasting feeling of depression or a disinterest in engaging in activities, significantly altering day-to-day life.

Seasonal Affective Disorder

A type of depression that occurs at a specific time of year, usually in the winter, when there is less natural sunlight.