Many older, retired households are considered "house poor." Which of the following forms of loans has been designed to help miti
gate this problem by offering additional monthly income to these homeowners in exchange for a portion of their housing equity? A. Purchase-money mortgage (PMM)
B. Package mortgage
C. Home equity loan
D. Reverse mortgage
Reverse mortgage is a type of loan in which a borrower from 62 years and above is able take part of their home equity without the need to pay monthly mortgage. This type of loan is majorly for older home owners who do not have sufficient monthly income, this type of loan can be a source of additional monthly income.
In other words, the home owner is able to get cash from borrowing against his/her home equity without selling the home. This type of mortgage loan doesn't have to be repaid until borrower wants to leave the home. Hence, the home can only be foreclosed if the borrower wants to leave the home without paying back the loan.
The one which represent the perception of the consumer or customer of the product as a bundle of the values of symbolic as well as utilitarian values and that satisfy the psychological, functional, social and the other needs and wants of the customer will be referred to as the product concept. And it is basically a blueprint of the idea.
Because Assistance programs are benefits that are offered to employees to helps manage several challenges they might have to accomplish the job. In this case, the company offered Jean several benefits such as bringing the pet, storing the yacht, it is a way to motivate Jean to accept the offer and do the best she can.
