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The seller is not comfortable taking back a mortgage and asks the salesperson for other suggestions to help the buyer. Brown determines that the buyer

The seller is not comfortable taking back a mortgage and asks the salesperson for other suggestions to help the buyer. Brown determines that the buyer could arrange a new first mortgage for 100 and $85,000 with the lender and the seller could assist the buyer by buying down interest rate the new mortgage the seller is agreeable to this and the property sold/ calculate the amount that the seller will have to pay to buy down the interest rate from 8% to 6.5% on the first mortgage based on a 25 year amortization. And a three year term?

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