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AFE · Question #177
AFE Question #177: Real Exam Question with Answer & Explanation
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Question
Generally, residential loans are open to prepayment at any time without penalty. To protect against a deficiency, mortgage loans should not exceed the market value of the mortgaged property and in fact are usually made for:
Options
- ANo more than 80 percent of the value
- BNot less than 80 percent of the value
- CNo more than 90 percent of the value
- DNot less than 70 percent of the value
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