Finance
In West Virginia, which type of mortgage requires the borrower to make interest-only payments during the loan term, with the entire principal due at the end?
AFully amortizing mortgage
BBalloon mortgage✓ Correct
CARM with payment caps
DReverse mortgage
Explanation
A balloon mortgage has lower monthly payments (sometimes interest-only) during the loan term, with a large 'balloon' payment of the remaining principal due at the end of the loan term. This creates refinancing risk for borrowers.
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