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
Sonbull [250]
2 years ago
6

When you take out a mortgage your home becomes the collateral. True or Fals

Business
1 answer:
gogolik [260]2 years ago
7 0

Answer:

The statement is true.

Explanation:

Mortgage is the long term loan which is issued by the financial institution like banks. These are those loans which are obtained or acquired for a large amount of finance required.

For example, an entrepreneur need a 50 million for the business expansion. Therefore, in this case, usually a house is worth the amount so it is offered as collateral security.

And if entrepreneur fails to make the payment to the lender that is bank, in that case, the bank has an option of claiming the ownership of the property. This result in seizing the mortgage collateral.

You might be interested in
"Calandra Panagakos works for CIBC Currency Funds in Toronto. Calandra is something of a contrarianlong dashas opposed to most o
Ad libitum [116K]

Answer:

Calandra should buy call on Canadian Dollars on C$ $0.7000 $0.00049

Explanation:

If she is expecting the Canadian dollar to appreciate versus the United States Dollar in the future, she would buy a calla that gives her the right to buy Canadian Dollars at a lower price than hers future cost projection.

8 0
2 years ago
Gerald received a one-third capital and profit (loss) interest in XYZ Limited Partnership (LP). In exchange for this interest, G
olchik [2.2K]

Answer:

The appropriate answer is "$9,300".

Explanation:

The given values are:

FMV,

= $31,000

Adjusted basis,

= $15,500

Encumbered mortgage,

= $9,300

Now,

The Gerald's outside basis will be:

= Adjusted \ basis-Encumbered \ mortgage+Share \ of \ mortgage

On substituting the given values, we get

= 15,500 - 9,300+(\frac{9,300}{3})

= 15,500 - 9,300 + 3,100

= 18,600-9,300

= 9,300 ($)

7 0
2 years ago
The bank forecloses on Lisa's apartment complex. The property had been pledged as security on a nonrecourse mortgage, whose prin
skelet666 [1.2K]

Answer: $400,000

Explanation:

Based on the information given in the question, Lisa's recognized gain or loss will be calculated as the difference between the amount that's realized and the adjusted basis. This will be:

Recognized gain will be:

= Amount realized - Adjusted basis

= $900,000 - $500,000

= $400,000

There's a recognized gain of $400,000

6 0
3 years ago
Which of the following is true about corporate cultures?a. Corporate cultures are not influenced by the people comprising that o
vladimir1956 [14]

Answer:

Corporate cultures can hinder individuals in making the "right" decisions.-c.

6 0
3 years ago
Read 2 more answers
A company that markets board games and jigsaw puzzles wonders if there
olga nikolaevna [1]

Answer: A

Explanation: Ap.ex

4 0
2 years ago
Other questions:
  • When should supplies be recorded as an expense?
    7·1 answer
  • You're having trouble coping with stressful life events, so you begin seeing a therapist. The therapist does not focus on your c
    14·1 answer
  • What type of integration best describes the type of organization bp is?
    9·1 answer
  • Which of the following movements started in Great Britain in the early 1980s when then Prime Minister Margaret Thatcher started
    6·1 answer
  • Norman, a partner of Dalextiles, a garment wholesale firm, offers discounts to giant retail apparel stores if the quantity of pr
    15·1 answer
  • Investigating careers
    12·1 answer
  • At the beginning of the year, Carson Company reported total current assets of $658,000 and total assets of $2,450,000. Carson re
    9·1 answer
  • How can an employee keep hot held foods safe from contamination
    5·1 answer
  • Who is pressuring Mr. Patil to
    9·1 answer
  • Do i need a LLC for a lipgloss business
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!