Answer:
Withdrawing money from savings
Explanation:
If a person withdraws money from his savings, this person is losing the balance that the bank or mortgage company could take into account in order to approve the loan or not.
The reason is that a person without savings could very easily find it hard to keep up with payments in case of a job loss, or a salary reduction, while a person with savings has a financial cushion that insurers the loaner against this kind of situations.
Answer:
quality modification
Explanation:
In marketing, quality modifications refer to changes made on the product's characteristics to change its durability, perceive quality and dependability. Hopefully all quality modifications should be done to increase the product's quality, but they can also be done to offer cheaper versions also. Generally lower quality versions are made to appeal to broader markets.
In this case, the quality modifications are made to increase perceived quality and appeal not to a mass market, but instead to appeal to an upscale market.
Collateral is an asset or piece of property that a borrower offers to a lender as security for a loan. ... An example of unsecured lending is a business credit card. Borrowers do not offer collateral when using a credit card. Since the loan is unsecured, credit cards typically carry higher interest rates.
Answer:
Dollar value of points = $6,000
Explanation:
Dollar value of points = mortgage amount * points / 100
Dollar value of points = $400,000 * 1.5 / 100
Dollar value of points = $6,000
