Question: Please answer these True or False questions. Please provide the correct answer. QUESTION 32 True or False: iStar has decided to convert the Chicago area

Please answer these True or False questions. Please provide the correct answer.

QUESTION 32

True or False: iStar has decided to convert the Chicago area mall it foreclosed upon into an amusement park.

QUESTION 35

True or False: Adjustable-rate mortgages, or ARMs, have monthly payments that can move up and down as interest rates in the market fluctuate. This is a risk to the borrower.

QUESTION 36

True or False: Base your answer on the following information:

https://www.zillow.com/mortgage-rates/?auto=true&value=1599000&zip=11210#filters=10248&request=ZR-BPLKWMWP&purpose=Purchase"e=ZQ-YBNQDWJN

This 5/1 ARM exposes the borrower to unlimited increases in interest rates as LIBOR increases.

QUESTION 37

True or False: Base your answer on the following information:

https://www.zillow.com/mortgage-rates/?auto=true&value=1599000&zip=11210#filters=10248&request=ZR-BPLKWMWP&purpose=Purchase"e=ZQ-YBNQDWJN

The mortgage rate is on this 5/1 ARM is 225 basis points higher than the index until it reaches its lifetime cap.

QUESTION 38

True or False: Base your answer on the following information:

https://www.zillow.com/mortgage-rates/?auto=true&value=1599000&zip=11210#filters=10248&request=ZR-BPLKWMWP&purpose=Purchase"e=ZQ-YBNQDWJN

The rate on this 5/1 adjustable rate mortgage has no fixed period. The rate can adjust from the day you borrow the funds.

QUESTION 39

True or False: Based on the Zillow mortgage calculator at https://www.zillow.com/mortgage-calculator/ and the information in the problem, please answer the following question;

You can use the advanced calculator to find more details.

Home price

$300,000

Down payment

$60,000

Loan Program

30 Year Fixed

Interest rate

3.5%

Your monthly interest and principal payment will be $1,078.

QUESTION 40

True or False: Based on the Zillow mortgage calculator at https://www.zillow.com/mortgage-calculator/ and the information in the problem please answer the following question;

You can use the advanced calculator to find more details.

Home price $500,000

Down payment

$20%

Loan program

30 Year Fixed

Interest rate

3.5%

Your monthly interest and principal payment will be $1,597

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