30. A mortgage that provides for paying the debt b...

NY Real Estate Practice Exam Questions Quiz

Question Number 30

30. A mortgage that provides for paying the debt by monthly payment of principal and interest and in which the interest portion of the payments decreases as the principal portion increases is a(n):

a. balloon mortgage

b. installment and contract

c. swing loan

d. amortized mortgage

✔ Correct Answer:

d. amortized mortgage

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NY Real Estate Practice Exam Questions Quiz

Question Number 30

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