Question
John and Mary Rose Tessler have had their home taken in foreclosure. They owe $92,000 on their original mortgage and $8,000 on their second
John and Mary Rose Tessler have had their home taken in foreclosure. They owe $92,000 on their original mortgage and $8,000 on their second mortgage. A contractor they hired to add on a screened porch is owed $2,000, and the contractor has filed a lien. The lender has spent $4,000 in bringing the foreclosure suit. The sale at foreclosure brings $99,000. How much would the contractor receive?
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