Question: . Choose the incorrect answer regarding mortgage refinancing. (1) It is difficult for home owners with high LTV ratio to refinance the current mortgage loans.

. Choose the incorrect answer regarding mortgage refinancing.

(1) It is difficult for home owners with high LTV ratio to refinance the current mortgage loans.

(2) When home owners consider rate or term refinancing, they first look at the spread between their current mortgage rates and the rate in the market.

(3) In cash-out refinancing, homeowners can borrow more than their current mortgage loan balances.

(4) Homeowners in cash-out refinancing pay higher interest rates than credit-card interest rates.

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