You put 20% down to purchase a beach house for $1,500,000. The 30-year fixed-rate mortgage had an interest rate of 8%. If you went Into foreclosure after 120 payments, and the lender sells the property for $700,000, how much does the lenderstand to lose in the absence of PMI? Hint: find the original payment and then use that to determine the loan balance at default. 50 $92.696 $260,000 O $352,696 $800.000