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Agent Resource Center
Agent Resource Center

A mortgage which may be increased by advancing additional funds to the borrower is known as:

Written by Posted On Wednesday, 12 December 2018 05:00

(A) Hypothecated
(B) Closed-end
(C) Open-end
(D) Amortized

 

Answer:  (C)  An open-end mortgage is the type in which additional funds may be advanced to the borrower without the necessity of writing a new mortgage for each advance.

Read 1573 times Last modified on Thursday, 06 December 2018 16:01
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