A buyer agrees to purchase real property by making monthly payments to the seller and then receiving a deed at a later point in time. such an agreement is known as a/an purchase-money mortgage.
What is purchase-money mortgage?
A purchase-money mortgage is a mortgage that the seller of home issues to the borrower as part of the sale of the property. This is typically done in circumstances where the buyer is unable to qualify for a mortgage through conventional banking channels. It is also known as seller financing or owner financing. In circumstances when the buyer is taking over, the seller's mortgage, and seller financing makes up the difference between the mortgage's outstanding balance and the property's sales price, a purchase-money mortgage may be employed.
What is one of the disadvantages of the purchase money mortgage?
One drawback is that you are still, and will continue to be, the home's legal owner. In the event that those buyers turn out to be dishonest, you can be left with damaged properties. Another drawback is that it could be challenging to evict or foreclose on a buyer who defaults on a loan.
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Answer:
Option "B" is the correct answer to the following question.
Explanation:
Under securitization, financial assets are collected through various means, the assets collected are sold as securities to investors or parties at a fixed interest rate. The process of converting loans into securities by banks is called securitization.
In the process of lending to homes, banks coverts the loans to securities and sell them to investors.
Let the cost of the shirt be y and the price by the which the shirt is sold is 2y.
Now, let's calculate how much does 15% represent from the price of the shirt:
15% discount = (15/100) x 2y = 0.3y
Therefore, the shirt is sold for : 2y - 0.3y = 1.7y
This means that at 15% discount, the shirt is sold at 1.7 of its original cost.
