4. The process where a borrower obtains a new loan to pay off an existing loan.

A.Loan refinancing B.Market value of a loan C. Wraparound loan D. Home equity loan

15. You borrowed $235,000 with a fixed rate,partially amortized mortgage.The term of the mortgage is 5 years, the amortization period is 30 years,and the interest rate is set at 9%.What is the balloon payment due at maturity?

3. You are looking to borrow $400,000 with a fixed rate, partially amortized mortgage.The term of the mortgage is 10 years,the amortization period is 25 years,and the interest rate is set at 9%.What is the monthly payment on the mortgage?

4. What is the payment amount for payment number 12 of a constant amortization mortgage.The 30-year mortgage is fully amortized and features a fixed rate of 6%.The original loan balance was $263,000.