An advertisement for a house includes only the following phrase about financing: "Assume the owner's original loan with only a $1,000 downpayment" What is wrong with this advertisement?
A. it doesn't include the loan's annual percentage rate and other financial terms
B. it doesn't also include the loan's original balance
C. it doesn't give the brokerage firm's name as advertised
D. Nothing. so long as it is the real estate's licensee's own property
Answer: A. it doesn't include the loan's annual percentage rate and other financial terms
Under the truth in lending act. if an advertisement contains a triggering term, such as the amount of a downpayment, then it must disclose all of the other information concerning the loan. This includes the loan's annual percentage rate.
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