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Refinancing: Quiz


Question 1: For home mortgages, in the United States, there may be certain tax advantages available with refinancing, particularly if one does not pay ________.
FairTaxAlternative Minimum TaxCapital gains tax in the United StatesTaxation in the United States

Question 2: In some jurisdictions – notably varying by American state – refinanced mortgage loans are recourse debt, meaning that the borrower is liable in case of default, while un-refinanced mortgages are ________.
Nonrecourse debtLoan to valueFederal Reserve SystemCollateral (finance)

Question 3: In the context of personal (as opposed to corporate) finance, refinancing a loan or a series of debts can assist in paying off high-interest debt such as ________ debt, with lower-interest debt such as that of a fixed-rate home mortgage.
Debit cardVisa Inc.American ExpressCredit card

Question 4: However, what most lenders fail to disclose is that the money you save upfront is being collected on the back through what's called ________ (YSP).
Mortgage brokerYield spread premiumConforming loanFannie Mae


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