2006-06-09 01:48:50 · 21 answers · asked by Sweetti 1 in Education & Reference ➔ Home Schooling
false
a mortgage is a loan your paying back for a house
2006-06-09 01:50:13 · answer #1 · answered by Anonymous · 1⤊ 0⤋
False without explanation but true with....the actually mortgage is paying back a loan for property purchased with assistance from a bank or other type company. They are making nice tidy profit on it over those 20 some odd years. However if the property values in that particular area do increase it would possible for home owner to make a very good profit in their retirement years. For instance grandparents bought a 4 bedroom 3 bath home on 1 acre of land for $40,000. They did pay over that for interest over the years so the house basically cost them $80,000 but last assessment valued property at $200,000 so...but then again they put how much into it over the years for improvements and up keep? LOL so answer could still come up false.
2006-06-09 08:59:31 · answer #2 · answered by Anonymous · 0⤊ 0⤋
False
2006-06-09 21:00:16 · answer #3 · answered by 777 2 · 0⤊ 0⤋
False
The term mortgage (from Law French, lit. dead pledge) refers to the legal device used in securing the property, but it is also commonly used to refer to the debt secured by the mortgage.
In most jurisdictions mortgages are strongly associated with loans secured on real estate rather than other property (such as ships) and in some cases only land may be mortgaged. Arranging a mortgage is seen as the standard method by which individuals or businesses can purchase residential or commercial real estate without the need to pay the full value immediately.
In many countries it is normal for home purchase to be funded by a mortgage. In countries where the demand for home ownership is highest, strong domestic markets have developed, notably in Great Britain, Spain and the United States
2006-06-09 08:51:21 · answer #4 · answered by cnuswte 4 · 0⤊ 0⤋
False. A mortgage is a type of loan that you take out to buy a house. A 401K is one type of account that you set up for retirement.
2006-06-09 08:51:11 · answer #5 · answered by Anonymous · 0⤊ 0⤋
False. A mortgage is a loan from a financial institution for the expressed purpose of buying restate.
A reverse mortgage is just the opposite. A financial institution pays you and when you sell you house, you pay off the loan.
2006-06-09 08:54:52 · answer #6 · answered by easywintoo 3 · 0⤊ 0⤋
false. mortgage could be considered as an investment account but retirement plans are for retirement,
2006-06-09 08:53:09 · answer #7 · answered by Dilyan 6 · 0⤊ 0⤋
False.
2006-06-09 08:50:10 · answer #8 · answered by kja63 7 · 0⤊ 0⤋
False. A mortgage is money you owe from borrowing to buy a house.
2006-06-09 08:50:29 · answer #9 · answered by Cyndie 6 · 0⤊ 0⤋
If you didn't know the answer to that then you should.t be taking the test! Nobody has seemed to educate you here so it leaves me to tell you that a pension account would be considered an account set up for ones retirement.
2006-06-09 08:53:35 · answer #10 · answered by Anonymous · 0⤊ 0⤋