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Katie's bank foreclosed on her office building when she stopped making loan ayments. The loan was secured by the building when she purachased it three
Katie's bank foreclosed on her office building when she stopped making loan ayments. The loan was secured by the building when she purachased it three years ago for $500,000. Katie's From 1099a indicated that the debt at the time of foreclosure was $470,000 and the FMV of the building was $510,000. If the building is sold for the FMV, how much of Katie's personal assets can the bank attempt to collect o satisfy the judgement? which of the following is correct?
0
$10,000
$30,000
$40,000
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