A Call Option on a Mortgage Is

question 1

Multiple Choice

A call option on a mortgage is:

• A) the homeowner's right to prepay the current balance prior to its maturity
• B) the lender's right to foreclose in the event of default
• C) the homeowner's right to take a second mortgage out on the equity in the home
• D) the lender's right to resell the mortgage to another lender

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Definitions:

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