« 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 166 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?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Daisy Fleabane Daisy Fleabane
(Left panel) The transition level (TL) for moving out of the parental home for 240 young men and ... (Left panel) The transition level (TL) for moving out of the parental home for 240 young men and ...
Mark Rothko, Four Darks in Red. Mark Rothko, Four Darks in Red.
The fact that a mother works outside the home has no negative effect on the well-being of her child ... The fact that a mother works outside the home has no negative effect on the well-being of her child ...
OraQuick. A negative result would show a red line at the "C" mark, whereas a positive ... OraQuick. A negative result would show a red line at the "C" mark, whereas a positive ...
An electrician charges a flat fee of $90 for a home service call. In addition he charges $25 ... An electrician charges a flat fee of $90 for a home service call. In addition he charges $25 ...
Video: Polymerase chain reaction PCR - Animation

For a complete list of videos, visit our video library