Finance
A Michigan balloon mortgage requires the borrower to:
AMake increasing payments over the loan term
BPay the remaining balance in full at the end of a shorter-than-30-year term✓ Correct
CRefinance automatically at market rates every 5 years
DMake only interest payments throughout the entire loan term
Explanation
A balloon mortgage has regular (often interest-only or amortizing) payments for a specified period (e.g.
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