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Larry convinced his parents to use $120,000 of their equity as a 20% down payment for Larry's purchase of his parents' vacation home. The
Larry convinced his parents to use $120,000 of their equity as a 20% down payment for Larry's purchase of his parents' vacation home. The $120,000 was considered a gift by the lender. This scenario is an example of O intermediation. O reintermediation. O a no down payment loan. O leverage. Previous Next
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International Financial Management
Authors: Geert Bekaert, Robert J. Hodrick
2nd edition
013299755X, 132162768, 9780132997553, 978-0132162760
