A Buy-Down Mortgage Is Distinguished by Which of the Following

question 6

Multiple Choice

A buy-down mortgage is distinguished by which of the following?

• A) Any mortgage with lower initial monthly payments.
• B) A mortgage with less-than-market interest rate.
• C) Payment by the seller of a portion of the interest cost at closing to reduce monthly payments in the early years of repayment.
• D) A second mortgage that reduces, or "buys down, the first mortgage".

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Definitions:

Organ Of Corti

Named for Italian anatomist Marquis Alfonso Corti (1822–1888). Spiral organ; rests on the basilar membrane and supports the hair cells that detect sounds.

Perilymph

Fluid contained within the bony labyrinth of the inner ear.

Medial Geniculate Nucleus

A part of the thalamus that acts as a relay station for auditory information on its way to the cerebral cortex.

Inferior Colliculus

One of two rounded eminences of the midbrain; involved with hearing.