« previous next »

Author Question: Mark Clemens is purchasing Daisy Gatsby's home for 250,000. Daisy has a mortgage for 150,000 at 10.9 ... (Read 171 times)

vicky

  • Hero Member
  • *****
  • Posts: 586
on: Jun 24, 2018
Mark Clemens is purchasing Daisy Gatsby's home for 250,000. Daisy has a mortgage for 150,000 at 10.9 (obtained in 1980). Current loan rates are 14 and Mark has only 25,000 for a down payment. Mark wants to know if there is a financing method other than obtaining a new loan for 225,000 at 14.

Question 2

Air rights and subsurface rights cannot be conveyed independently.
  Indicate whether the statement is true or false


Mollythedog

  • Sr. Member
  • ****
  • Posts: 340
Reply #1 on: Jun 24, 2018
Answer to Question 1

Daisy could carry Mark in a wrap-around/subject to sale where Daisy continues to pay her mortgage but finances Mark's full 225,000 at 11-12. She makes a profit and Mark pays less than the 14.

Answer to Question 2

FALSE


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

vicky

  • Hero Member
  • *****
  • Posts: 586
Reply #2 on: Jun 24, 2018
Thank you


Mollythedog

  • Sr. Member
  • ****
  • Posts: 340
Reply #3 on: Jun 24, 2018
No problemo


« previous next »
 

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Primates use their space in a variety of ways: home ranges, core areas, and territories. Primates use their space in a variety of ways: home ranges, core areas, and territories.
In 2008, the U.S. economy suffered a gaping wound as several trillion dollars were ripped out of it. In 2008, the U.S. economy suffered a gaping wound as several trillion dollars were ripped out of it.
Specialized values and interests are two of the characteristics that mark subcultures. What values ... Specialized values and interests are two of the characteristics that mark subcultures. What values ...
Every culture has funeral rituals that help its members mark the passing of one of their own and ... Every culture has funeral rituals that help its members mark the passing of one of their own and ...
Cylinder 1 and timing mark location guide. Cylinder 1 and timing mark location guide.
Video: Genetic terms Animation

For a complete list of videos, visit our video library