Which of the following is a benefit of a reverse mortgage? Select one: a. It must be repaid in full during the borrower's lifetime. b. It increases the amount of equity remaining to be passed into the estate. c. It does not impact the borrower's cash flow. d. It is due immediately upon the borrower's death. Which prepayment penalty is charged when a borrower fully prepays their mortgage during the term, and is calculated by multiplying the outstanding balance by the interest rate, divided by four? Select one: a. Interest Rate Differential b. Partially Open Penalty c. Fully Open Penalty d. 3 months Interest
Which of the following is a benefit of a reverse mortgage? Select one: a. It must be repaid in full during the borrower's lifetime. b. It increases the amount of equity remaining to be passed into the estate. c. It does not impact the borrower's cash flow. d. It is due immediately upon the borrower's death. Which prepayment penalty is charged when a borrower fully prepays their mortgage during the term, and is calculated by multiplying the outstanding balance by the interest rate, divided by four? Select one: a. Interest Rate Differential b. Partially Open Penalty c. Fully Open Penalty d. 3 months Interest
Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
Problem 1PE
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Transcribed Image Text:Which of the following is a benefit of a reverse mortgage?
Select one:
a. It must be repaid in full during the borrower's lifetime.
b. It increases the amount of equity remaining to be passed into the estate.
c. It does not impact the borrower's cash flow.
d. It is due immediately upon the borrower's death.

Transcribed Image Text:Which prepayment penalty is charged when a borrower fully prepays their mortgage
during the term, and is calculated by multiplying the outstanding balance by the
interest rate, divided by four?
Select one:
a. Interest Rate Differential
b. Partially Open Penalty
c. Fully Open Penalty
d. 3 months Interest
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