Multiple Choice
In the year 2002, Timothy wanted to purchase a house. As he did not have sufficient funds, he decided to take a loan. Given his low credit score, it was highly unlikely that he would be able to repay the borrowed money. However, he was able to secure a loan despite his reduced ability to repay the loan. Timothy most likely applied for a _____.
A) subsidized loan
B) subprime mortgage loan
C) endowment mortgage loan
D) concessional loan
Correct Answer:
Verified
Correct Answer:
Verified
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