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Which statements are true about mortgages? Check all that apply: Most mortgages allow the borrower to prepay the mortgage principal without penalty. Federally insured mortgages
Which statements are true about mortgages?
Check all that apply:
Most mortgages allow the borrower to prepay the mortgage principal without
penalty.
Federally insured mortgages are guaranteed by the FHA or VA and may require
low or no down payment.
All mortgage loans are backed by a specific piece of property serving as
collateral.
A down payment is required as part of the mortgage agreement to reduce
default risk.
Mortgage contracts specify the terms and conditions, and institutions may sell
or securitize these mortgages.
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