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Financial Planner

Category - General Principles of Financial Planning

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What type of mortgage does not require repayment?

Home Equity Loan
Home Equity Line of Credit
Ratio Mortgage
Reverse Mortgage

Explanation

Answer: D - A reverse mortgage does not require repayment. This type of mortgage is usually preferred by those who have already paid their original mortgage and are opting to live off of the equity that has accrued on the property. The borrower receives regular monthly, tax-free payments from the lender.

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