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Author Question: Explain the differences between a negative amortization mortgage and a reverse ... (Read 58 times)

Mimi

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on: Jun 24, 2018
Explain the differences between a negative amortization mortgage and a reverse mortgage.

Question 2

Solar easements provide protection from obstruction of light and sunlight.
  Indicate whether the statement is true or false


hanadaa

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Reply #1 on: Jun 24, 2018
Answer to Question 1

A NAM is one in which the lender lowers monthly payments in the initial years, but the interest is added to the principal so that at the end of the initial period, the borrower's principal amount is actually larger. A reverse mortgage is one in which the borrower gets paid by the lender - the equity in the home is pledged in exchange for monthly payments in order to supplement retirement income.

Answer to Question 2

TRUE


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