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25 June, 21:06

A mortgage with a dedicated savings account, which earns interest, that is used to gradually reduce mortgage payments is known as what?

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  1. 25 June, 21:14
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    Pledged Account Mortgage

    Explanation:

    Pledged Account Mortgage -

    It is a form of graduated payment mortgage, in which the interest payments and principal are taken out from the pledged account, in the early loan years, is known as pledged account mortgage.

    The focus is to decrease the amount of payment in the initial years.

    Hence, from the given information of the question,

    The correct term is pledged account mortgage.
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