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
Tamiku [17]
3 years ago
9

A seller sold a house to a buyer allowing the buyer to take over the loan on a "subject to" basis. After 2 years, the buyer defa

ulted on the loan. Who would be liable to the lender for the note?
The Seller would be primarily liable
The Buyer would be primarily liable
Both buyer and seller would be primarily liable
Neither buyer or seller would be primarily liable
Business
1 answer:
lubasha [3.4K]3 years ago
4 0

Answer:

A. The seller would be primarily liable.

Explanation:

Subject to basis is a form of home buying options in real estate. It is a situation where the buyer takes over existing loan of a seller and make commitment to seller to continue repaying the loan to the lender.

Though the buyer will taken over the loan from the seller and make repayment to the lender, there is no legal obligation on buyer`s part that makes him/her liable to the lender. The seller still remain liable despite the the taking over. So  option A is right while B to D is wrong because it`s only the seller that is primarily liable to the lender.

You might be interested in
It costs ​$34,000 to retrofit the gasoline pumps at a certain filling station so the pumps can dispense E85 fuel​ (85% ethanol a
victus00 [196]

Answer:

The investor will pay up the rereofitted pumps in a period of 22.52 months.

Explanation:

<em><u>First,</u></em> we solve for the amount of profit generate per month:

21,000 gallons a month x $0.09 per gallon = $1,890

Now, we calcualte the time at which an monthly income of 1890 discounted at 2% per month matches a present value of 34,000

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C  $1,890.00

time    n

rate 0.02

PV $34,000.0000

1890 \times \frac{1-(1+0.02)^{-n} }{0.02} = 34000\\

(1+0.02)^{-n}= 1-\frac{34000\times0.02}{1890}

(1+0.02)^{-n}=  0.64021164

We use logarithmics properties to solve for n:

-n= \frac{log0.64021164021164}{log(1+0.02)

-22.52006579

n = 22.5200 = 22 and a half month.

7 0
3 years ago
Frontier Corp. sells units for $57, has unit variable costs of $29, and fixed costs of $164,000. If Frontier sells 10,000 units,
jeka94

Answer:

2.4

Explanation:

Frontier corporation sells unit for $57

The unit variable cost is $29

Fixed cost is $164,000

Frontier sells 10,000 units

The first step is to calculate the contribution margin

= 57-29×10,000

= 28×10,000

= 280,000

Profit = 280,000-164,000

= 116,000

Degree of operating leverage can be calculated as follows

= 280,000/116,000

= 2.4

6 0
3 years ago
Gertrude takes out a $5,500 subsidized Stafford loan, which must be paid back in ten years. Gertrude will graduate four years af
Sergio [31]

$2,095.30 interest will she pay by the time the loan is repaid

Solution:

The $5,500 guaranteed Stafford loan is taken from Gertrude.

The loan has a monthly compounding interest rate of 6.8 percent.

Price current= $5,500.

Present Value = $5,500

Time period = 10 years

So , N = 10 x 12 = 120 months.

Interest rate, R = 6.8/1200 = 0.005666667

PV = Pmt * [1 - (1+R)^(-N)]/(R)

5500 = Pmt * [1 - (1+0.005666667)^(-120)]/(0.005666667)

Pmt = $63.29418157

She got full refund. = 63.29418157 x 120 = $7,595.30

Interest paid = Total repayment - Loan Principal

                      = $7,595.30 - $5,500

                      = $2,095.30

7 0
3 years ago
Lopez Corporation incurred the following costs while manufacturing its product.
grandymaker [24]

Answer:

$358,150

Explanation:

Cost of goods manufactured is calculated in a Schedule of Manufacturing Costs as follows :

Cost of goods manufactured = Beginning Work In Process + Total Manufacturing Costs - Ending Work In Process

where,

Total Manufacturing Costs :

Materials used in product              $124,260

Depreciation on plant                     $69,650

Property taxes on plant                   $21,750

Labor costs of assembly-line        $120,570

Factory supplies used                     $25,810

Total                                               $362,040

therefore,

Cost of goods manufactured = $13,700 +   $362,040 - $17,590 = $358,150

8 0
3 years ago
Que es la macroeconomia
ipn [44]

Answer:

La macroeconomía es una rama de la economía que se ocupa del desempeño, la estructura, el comportamiento y la toma de decisiones de una economía en su conjunto. Esto incluye economías regionales, nacionales y globales.

En palabras sencillas;

La macroeconomía es la rama de la economía que estudia el comportamiento y el desempeño de una economía en su conjunto.

Explanation:

4 0
3 years ago
Other questions:
  • What is a stock market? What is an example of a stock market?
    7·2 answers
  • A fruit company has 20% returns in periods of normal rainfall and –3% returns in droughts. The probability of normal rainfall is
    15·1 answer
  • Planters Bank pays 5 percent simple interest on its savings account balances, whereas Centura Bank pays 5 percent compounded ann
    8·1 answer
  • Of the four attributes of a national or country-specific environment that have an important impact on the global competitiveness
    7·1 answer
  • Your firm currently has $ 100 million in debt outstanding with a 10 % interest rate. The terms of the loan require the firm to r
    9·1 answer
  • Bocelli Co. purchased $120,000 of 6%, 20-year Sanz County bonds on May 11, Year 1, directly from the county, at their face amoun
    13·1 answer
  • What can be used to customize how the data is tracked in the Conversions<br> column
    5·1 answer
  • Free brainly anyone wants one ??
    15·2 answers
  • Campaign Company, which applies overhead to production on the basis of machine hours, reported the following data for the period
    14·1 answer
  • Margot and Steve owned several rental properties at the time of their divorce. The divorce decree gave ownership to Margot in re
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!