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In refinancing, a borrower holding an existing loan with a 15 -year original term but with 12 years left on the life, is not allowed

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In refinancing, a borrower holding an existing loan with a 15 -year original term but with 12 years left on the life, is not allowed to refinance into a new mortgage with a 30 -year term because it is more than double the remaining term on the original mortgage. True False

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