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Which of the following is true about Pay Option ARMs? A. They were products designed for average/typical mortgage borrowers that want to reduce the time

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Which of the following is true about Pay Option ARMs? A. They were products designed for average/typical mortgage borrowers that want to reduce the time until the mortgage is fully repaid. B. They have a fixed interest rate over the entire life of the loan. C. They switch to a traditional ARM after a certain balance or after the intro period is over, whichever is first. D. The minimum payment covers the interest

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