« 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 151 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?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

The mark-recapture technique is often used to estimate population size. The mark-recapture technique is often used to estimate population size.
Shortly after his death, George Washington had already become myth—part Moses, part angel—in this wo Shortly after his death, George Washington had already become myth—part Moses, part angel—in this wo
Martha Rosler, Gladiators, from the series House Beautiful: Bringing the War Home. 2004 Martha Rosler, Gladiators, from the series House Beautiful: Bringing the War Home. 2004
Remove all of the spark plugs. Be sure to mark the spark plug wires so that they can be reinstalled ... Remove all of the spark plugs. Be sure to mark the spark plug wires so that they can be reinstalled ...
How to calculate mortgage payments (Question 1 of 2) How to calculate mortgage payments (Question 1 of 2)
Video: Types of energy transfer reactions: oxidation-reduction reactions and ATP generation reactions

For a complete list of videos, visit our video library