Which of the following statements about interest-only mortgages is not true?
A) Interest-only mortgages cannot be Qualified Mortgages under The Consumer Financial Protection Bureau's rules.
B) Mortgage payments may increase abruptly.
C) Interest-only mortgages allow the borrower to pay only interest for the life of the mortgage.
D) Interest-only mortgages were popular before the financial crisis.
Answer: C
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Moonwalker's CVP income statement included sales of 4,000 units, a selling price of $100, variable expenses of $60 per unit, and fixed expenses of $88,000. Contribution margin is
a. $400,000. b. $240,000. c. $160,000. d. $72,000.
Reed Productions has provided the following information for the year
Direct Labor $150,000 Beginning Work-in-Process Inventory 63,000 Direct Materials Used 269,000 Ending Work-in-Process Inventory 52,900 Manufacturing Overhead 135,000 During the year, Reed produced 71,220 units of product. Calculate the unit product cost. (Round your answer to the nearest cent.) A) $7.92 B) $6.77 C) $7.78 D) $8.66