California Real Estate Exam

Category - Real Estate

________________ is the term applied to a mortgage in which you make the payments every two weeks, thereby making thirteen payments a year rather than twelve. This mortgage is paid off faster than a normal mortgage.
  1. Twice-monthly mortgage
  2. Accelerated mortgage
  3. Bi-weekly mortgage
  4. None of the above
Explanation
Answer: C. A mortgage in which you make payments every two weeks instead of once a month is called a bi-weekly mortgage.
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