Pacific Bank provides Ogden with a standard mortgage with an unchanging rate of interest to buy a
Question:
Pacific Bank provides Ogden with a standard mortgage with an unchanging rate of interest to buy a home. Payments on the loan remain the same for the duration of the mortgage. This is
a. a fixed-rate mortgage.
b. an adjustable-rate mortgage.
c. an acceleration clause.
d. a violation of the law.
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The correct answer is a a fixedrate mortgage In a fixedrate mortgage the interest rate ...View the full answer
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Related Book For
Business Law Text And Exercises
ISBN: 9780357717417
10th Edition
Authors: Roger LeRoy Miller, William E. Hollowell
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