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13 October, 02:28

Borrowers taking a balloon payment mortgage most likely

a. plan to rent out their homes.

b. must repay the loan in five to ten years.

c. are unwilling to accept any risk in borrowing money.

d. remain in their homes for 30 years or more

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Answers (2)
  1. 13 October, 02:37
    0
    Must repay the laon in five to ten years (B)
  2. 13 October, 02:56
    0
    When we say balloon payment or balloon loan, this is the kind of loan wherein you will only be paying a lower amount on the first few years, but on the end of the term, you will be paying a large or bulk amount. In the given scenarios above, I can say that a balloon payment mortgage would most likely remain in their homes for 30 years or more. Answer is D.
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Home » Business » Borrowers taking a balloon payment mortgage most likely a. plan to rent out their homes. b. must repay the loan in five to ten years. c. are unwilling to accept any risk in borrowing money. d. remain in their homes for 30 years or more
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