1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
OLga [1]
3 years ago
15

of 10 Owner Sam has a $75,000 mortgage on his home. Sam sells his home to Bill for $100,000. Bill pays $7,000 down and borrows $

93,000 on a new mortgage. This mortgage includes the existing $75,000 mortgage because the new lender will make the payments on the old mortgage. This is an example of a what kind of loan?
Business
1 answer:
navik [9.2K]3 years ago
8 0

Answer:

wrap-around loan

Explanation:

Based on the scenario being described within the question it can be said that the type of loan being described is known as a wrap-around loan. This is a loan in which the initial home morgage amount is added to an incremental amount that when summed makes up the total amount that the house is being sold for and which the buyer will need to pay the seller in a given period of time. Which in this type of loan the lender provides the money for this payment.

You might be interested in
What does the term primary, secondary and tertiary mean in business?
seropon [69]

Tertiary means commercial services.

Primary business purpose is a phrase denoting that the main intent of traveling out of town was to transact business.

A secondary industry makes products that are more likely to be consumed by individuals.

Hope this helps, have a good day. c;

7 0
3 years ago
Read 2 more answers
The first step any investor should take before beginning to invest is to __________.
Nataly_w [17]
The first step that an investor should take before  beginning to invest should be to establish investment objectives.
5 0
3 years ago
In a centralized organization, policies and procedures are usually _____.
dlinn [17]
<span>Mandated by the authority figures in said organization. Even if the policies and procedures seem to be lacking in the wisdom department, the policies and procedures need to be followed to the best of ones abilities as laid out by said authority figures.</span>
4 0
3 years ago
. Licensing occurs when: a. A licensee allows a licensor to use its intellectual property for a fee. b. A professional league pa
DedPeter [7]

Answer:

c. The owner of an intellectual property grants its use to a league in exchange for a fee.

Explanation:

Licensing occurs when: owner of an intellectual property grants its use to a league in exchange for a fee.

8 0
3 years ago
Read 2 more answers
Gift Finder
Katyanochek1 [597]

Answer:

Hi, I found a gift hope u like it

Explanation:

IT'S ON AMAZON

7 0
2 years ago
Read 2 more answers
Other questions:
  • 4. Why is the customer service department of a company important?
    14·1 answer
  • Ann is in the middle of completing her first 1040EZ tax form. She has some questions about an instruction on the form. What shou
    15·1 answer
  • Handy hiking produces backpacks. In 2007, its highest and lowest production levels occurred in july and january, respectively. I
    11·1 answer
  • Integrated Masters Inc. (IMI) is presently operating at 80% of capacity and manufacturing 131,000 units of a patented electronic
    10·1 answer
  • Describe two ways that technology changed people's lives in the 1990s
    11·2 answers
  • Review the steps in the accounting cycle and answer the following​ questions:
    9·1 answer
  • What is the Consumer Price Index (CPI) and how is it determined each month? How does the Bureau of Labor Statistics (BLS) calcul
    9·1 answer
  • Joan Wilder receives a phone call from a salesman who tries to sell her an insurance policy by scaring her about her high risk o
    15·1 answer
  • Identify which of the following opening adjusting entries should be used when setting up in QuickBooks an existing company with
    9·1 answer
  • The appropriate journal entry to transfer the cost of completed units from the Work in Process account would involve a credit to
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!