The ________ Mortgage Sets the Payments in Advance in Such

question 20

Multiple Choice

The ________ mortgage sets the payments in advance in such a way that they rise steadily for 5 to 10 years,then level off to allow a person to buy a home earlier in life.

• A)balloon payment
• B)growing equity
• C)shared appreciation
• D)graduated payment
• E)conventional

---

Definitions:

Personal Property

Items or assets that can be moved and are not fixed to one location, unlike real estate.

Accession

The act of acquiring additional property or improvements to existing property, which becomes an integral part of the original property.

Fire Insurance Policies

Insurance contracts that provide coverage for damage or loss to property due to fire.

Coverage

The extent to which an insurance policy or legal protection provides financial reimbursement against losses or damages.