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What is the minimum amount of Lay-up time for which a credit will be provided?

A) 30 days
B) 60 days
C) 90 days
D) 120 days

1 Answer

4 votes

Final answer:

The minimum amount of lay-up time for which a credit will be provided is 30 days.

Step-by-step explanation:

The minimum amount of lay-up time for which a credit will be provided is 30 days (option A).

In the context of mortgages, lay-up time refers to the period during which the borrower is not required to make regular mortgage payments.

During this lay-up period, the borrower may still accrue interest on the loan, but no principal payments are required. This provides the borrower some flexibility and relief from monthly mortgage payments.

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