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ycow [4]
3 years ago
6

8. Sam bought a house that costs $500,000. Sam got a 96% LTV loan. The lender demanded that Sam buy private mortgage insurance t

o insure the portion of the loan over 75% LTV. Suppose 5 years later, Sam’s mortgage balance is $400,000. However Sam defaults and his house sells for $220,000 in a foreclosure auction. How much will the mortgage insurance company pay Sam’s lender?
Business
1 answer:
storchak [24]3 years ago
5 0

Answer:

The insurance company will pay the mortage of $400,000

Explanation:

Loan value = 96%* $500000

                   = $480000

75% LTV value = $375000

Portion of loan over 75% LTV= $105000.

This is the amount insured.

5 years later, Sam needs $400000 more to pay. But he defaults.

And he has only paid $100000 of mortgage loan.

So, insurance company will pay the remaining balance of the amount insured to Sam's lender.

Therefore, The insurance company will pay the mortage of $400,000.

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Answer:

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Explanation:

If Justin didn't account his expenses to his employer, then any extra amount given to him should be added to his gross income. In Justin's case his gross income should be $31,500 ($30,000 + $1,500). On the other hand, if he would have accounted his expenses to his employer, then the $1,500 wouldn't be added to his gross income.

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3 years ago
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Volgvan

Answer:

The correct answer is letter "B": Investors expecting a return on their investment regardless of the cost.

Explanation:

<em>Ethical employee relationships</em> arise when one worker does not show his or her personal values affecting another employee. It is the result of the interaction between them that could lead to the violation of the Code of Ethics of the company.

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6 0
4 years ago
Michael wanted to build a small princess castle for his daughter in the backyard. He decided to turn it into a do-it-yourself pr
givi [52]

Answer:

C)

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He can file a strict liability lawsuit against Big Ben Forts for failure to provide adequate instructions on assembling the product.

4 0
3 years ago
According to the U.S. Department of Labor Statistics, _____ is the industry earning the highest average annual wage in 2009.
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Michelle always drives down Hampton Avenue to go to work. One morning, Michelle discovers that Hampton Avenue is closed at Wood
Soloha48 [4]

Answer:

she has formed a cognitive map of the area

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