Which of the following is FALSE regarding morgages? The borrower is generally required to prepay...
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Which of the following is FALSE regarding morgages? The borrower is generally required to prepay property taxes and home owner's insurance, with payments going into an escrow account held by the lender. . With mortgages, the property generally serves as collateral for the loan. Mortgages are usually amortized, meaning the fixed monthly payments include both interest and principal. Balloon payment mortgages have payments that get smaller over time. With an adjustable-rate mortgage, the borrower bears the interest rate risk
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