Each of the Following Statements About Open-End Mortgage Clauses Is

Multiple Choice

Each of the following statements about open-end mortgage clauses is true EXCEPT

A) using an open-end clause, the new amount borrowed is added to the mortgage balance.
B) they are used in government loans like DVA and FHA.
C) they are used in conventional mortgages.
D) funds borrowed using an open-end clause are reamortized over the remaining like of the mortgage.