The type of real estate loan that allows the lender to increase the outstanding balance of a loan up to the original sum in the note while advancing additional funds is the
A) wraparound mortgage.
B) open-end mortgage.
C) growing-equity mortgage.
D) graduated-payment mortgage.
Answer: B) open-end mortgage.
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A) the business has the capacity to produce the product B) the product is expected to have rapid technological change C) the business wants to retain a competitive uniqueness D) the product is expected to need little servicing E) the product is expected to undergo few changes
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A) executive; state B) legislative; state C) executive; federal D) legislative; federal