Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi, is anybody available to help with finance? Suppose that you are a lender and that you have issued a loan on a private residence

Hi, is anybody available to help with finance? Suppose that you are a lender and that you have issued a loan on a private residence in Pennsylvania. The borrower has defaulted on this mortgage and you have invoked the acceleration clause. The OMB, including accrued fees, is $319,000. There is also a property tax lien of $7,500 and a workman's lien of $4,300 on the property.

If I sell the home for $327,000 how do I find out how much I can recover from the sale? I just need you to help me understand what calculations are involved, I do not intend to ask you to answer the question numerically

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: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Fundamentals of Financial Management

Authors: Eugene F. Brigham, ‎ Joel F. Houston

11th edition

324422870, 324422873, 978-0324302691

More Books

Students also viewed these Finance questions