Question 736 debt terminology
You bought a house, primarily funded using a home loan from a bank. Which of the following statements is NOT correct?
(a) The home loan is a debt liability to the bank.
(b) The bank invested in your debt.
(c) You are indebted to the bank.
(d) You owe the bank principal and interest payments.
(e) You sold your promise to the bank to pay the principal and interest.
Copyright © 2014 Keith Woodward