BUSN 380 STUDY Career Path Begins/busn380study.com BUSN 380 STUDY Career Path Begins/busn380study.com | Seite 93

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)