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.
A
You might also like to view...
Dividing the net income for the year by the average capital for the year is the calculation for the
a. quick ratio; b. current ratio; c. return on retained earnings; d. return on equity; e. return on shares
When old equipment is traded in for a new equipment, the difference between the list price and the trade in allowance is called boot
Indicate whether the statement is true or false
Businesses usually pay taxes on the personal property they own, use, or lease.
Answer the following statement true (T) or false (F)
Countrywide was acquired by Bank of America
Indicate whether the statement is true or false