BUSN 380 help Making Decisions/uophelp.com BUSN 380 help Making Decisions/uophelp.com | Page 79

$3,000.
Question 14. 14. (TCO 3) Latrice Patterson has presented a counteroffer,
and this means she is (Points : 1)
negotiating a purchase price.
reducing her mortgage payments.
lowering real estate property taxes.
avoiding the payment of points at closing.
avoiding the payment of the real estate agent's commission.
Question 15. 15. (TCO 3) Todd Foley is applying for a $100,000
mortgage. He can get a $600 monthly payment for principal and interest
and no points, or a $550 monthly payment with one point. How many
months will it take Todd to cover the cost of the discount points if he
takes the lower monthly payment? (Points : 1)
6
12
20
2
25
Question 16. 16. (TCO 3) An example of a conventional mortgage
would be (Points : 1)
an FHA mortgage.
a buy-down.
a home equity loan.
a shared appreciation mortgage.
a fixed-rate mortgage.
Question 17. 17. (TCO 3) When one observes negative amortization, this
means that there (Points : 1)