This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In the past, a short sale resulted in a large tax burden to the former homeowner in the amount of ... (Read 78 times)

bcretired

  • Hero Member
  • *****
  • Posts: 525
on: Aug 3, 2018
In the past, a short sale resulted in a large tax burden to the former homeowner in the amount of the uncollected and forgiven mortgage debt. Some relief for this burden is now found in:
 
  a. The doctrine of estoppel.
  b. The Making Home Affordable Program.
  c. The Mortgage Forgiveness Debt Relief Act.
  d. A loan modification.

Question 2

Adam and Melissa bought their house with a(n) ____ mortgage. They could just afford the payments at the time, but now the interest has ____, and they need to seek help to avoid foreclosure.
 
  a. Underwater; dropped
  b. Subprime; dropped
  c. Underwater; ballooned
  d. Subprime; ballooned


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Kdiggy

  • Sr. Member
  • ****
  • Posts: 340
Reply #1 on: Aug 3, 2018
Answer to Question 1

c

Answer to Question 2

d


bcretired

  • Member
  • Posts: 525
Reply 2 on: Aug 3, 2018
YES! Correct, THANKS for helping me on my review

frankwu0507

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

A chuckwalla, Sauromalus ater. Chuckwallas are large herbivorous lizards living in the southwestern A chuckwalla, Sauromalus ater. Chuckwallas are large herbivorous lizards living in the southwestern
Mutualisms, such as those that occur among plants and pollinators, generally involve large numbers o Mutualisms, such as those that occur among plants and pollinators, generally involve large numbers o
Constructing large motifs from smaller ones Constructing large motifs from smaller ones
Red-bellied short-necked turtle Red-bellied short-necked turtle
Middle adulthood can bring large-scale changes in lifestyle and interests, as illustrated by this ph Middle adulthood can bring large-scale changes in lifestyle and interests, as illustrated by this ph
Chris Burden, Shoot. Chris Burden, Shoot.
Video: Wound Repair Animation

For a complete list of videos, visit our video library