$1.$If there are no fees charged on the loan, the APR and the EBC will always be equal.

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False

$2.$ A teaser rate is an initial interest rate on an adjustable$-$rate mortgage that is below the fully$-$indexed rate at the time the mortgage is originated.

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False

$3.$In general, lenders are quick to pursue foreclosure when a borrower becomes delinquent on a mortgage because this is the best way for them to protect their interest on the property.

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False

$4.$A constant amortization mortgage has less default risk than a constant payment mortgage because the borrower's loan balance is paid down more quickly.

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False

$5.$The lender only has a right to foreclose on the mortgaged property when the borrower defaults on a mortgage, if the property is worth less than the amount owed, the lender has no further claim on the borrower.

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False