Question: Briefly describe the two basic types of mortgage loans. Which has the lowest initial rate of interest? What is negative amortization, and which type of

Briefly describe the two basic types of mortgage loans. Which has the lowest initial rate of interest? What is negative amortization, and which type of mortgage can experience it? Discuss the advantages and disadvantages of each mortgage type.

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The fixedrate mortgage is the traditional form of a mortgage and is characterized by the fact that both the rate of interest and the monthly payment a... View full answer

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