Question: Short answer: A borrower obtained a fully amortizing mortgage 6 years ago for $98,000 at 11 percent for 30 years. Now a fully amortizing 24-year

Short answer: A borrower obtained a fully amortizing mortgage 6 years ago for $98,000 at 11 percent for 30 years. Now a fully amortizing 24-year loan can be obtained at 9.5 percent. There is no prepay...

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