Detecting Accounting Fraud 1st Edition by Cecil Jackson

Exercise 36

Answer the following question with T for true or F for false for more practice with key terms and concepts from this chapter.
The 80/20 loan is a mortgage loan whereby the borrower takes out a loan for 80 percent of the purchase price and a second loan for 20 percent of the purchase price, leaving the borrower with no equity in the house at the time of the loan.