Business, 30.07.2021 02:40 COOLIOMARIS
A house is sold with an assumable $156,000 below-market loan at 8.5% for a remaining term of 15 years. Current rates are 9.75% for 15 year mortgages. If the house sold for $240,000, what is the cash-equivalent value of the house, representing the price at which the loan can be sold to a new buyer
Answers: 3
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A house is sold with an assumable $156,000 below-market loan at 8.5% for a remaining term of 15 year...
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