Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

56 You have granted a mortgage on your home to First Bank and Trust. The mortgage is a FNMA/FHLMC Uniform Mortgage. You currently have the

image text in transcribed
56 You have granted a mortgage on your home to First Bank and Trust. The mortgage is a FNMA/FHLMC Uniform Mortgage. You currently have the home under a contract for sale. You want to be able to sell the home and have the purchaser assume the mortgage to First Bank and Trust. Two days before the closing of the sale, you notify First Bank and Trust that you are selling the property and that the purchaser will assume the loan. First Bank and Trust responds that it will not consent to the sale unless you provide financial information concerning the purchaser and pay First Bank and Trust a fee of $1,000. First Bank and Trust also inform you that if you refuse to cooperate and sell the home without its consent, it will call the loan in default and foreclose. Can First Bank and Trust legally do this hp ooo *

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_step_2

Step: 3

blur-text-image_step3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions

Question

Given that v(0) = 2 and dv(0)/ dt = 4 , solve 10e ul) dt dt

Answered: 1 week ago

Question

Describe how projective tests are used.

Answered: 1 week ago