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Which of the following are NOT a possible motivations for refinancing a mortgage? A. To lower...

Which of the following are NOT a possible motivations for refinancing a mortgage? A. To lower one's mortgage rate B. To switch from a 30 year to 15 year mortgage and pay the loan off faster C. To refinance where the new loan amount exceeds the previous loan amount and receive the amount of the increase in the loan as cash. D. All of these are possible motivations

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Answer #1

Options A & B are motives of refinancing of the Mortgage. while Option C is not a motive  To refinance where the new loan amount exceeds the previous loan amount and receive the amount of the increase in the loan as cash. this option is not a reason for refinance of mortgage.

Option c is correct.

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