People Window Help MInbox(2358)--x GCoogie--? Assume-ouHRY-Lgi-CAS-VQChapter16.n
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People Window Help MInbox(2358)--x GCoogie--? Assume-ouHRY-Lgi-CAS-VQChapter16.nx Iwloome u e https:/ htm ork 5-Chapters 15 to 17 Help Save &Exit; Submit MC Qu. 34 You have taken out a $100,000, You have taken out a $100,000, one-year ARM The teaser rate in the first year is 45% lannua) The inde interest rate after the first year is 325% and the margin is 275%, (Note: The term on this ARM is 30 years, There is aso a periodic (annual rate cap of 100%. Given this information, determine the monthly mortgage payment you would be scheduled to make in month 13 of the mortgage loan's term Multiple Choice es $566 26 $59721 $506.69 32164Explanation / Answer
4. Sole proprietorship will not be the correct option at it means the single owner of a business. An entity can't be a sole proprietor. It will also not be a tenant as it is not paying any rent on the property. Syndicate is also incorrect as it means group of investors pooling their money in a real estate property in which they alone can't invest. Therefore, the correct answer is intermediary because the entity is acting as an agent between the seller and the ultimate investors and selling the claims to the ultimate investors on behalf of the seller.
5. All types of second mortgage use a home as collateral. Therefore the correct answer is second option.
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