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3 years ago

What is a reverse mortgage in simple terms

Business

2 answers:

ella [17]3 years ago

7 0

Answer:

Explanation:

The reverse mortgage is the mortgage which is give to the people who age is 62 years or below . The main aim of providing reverse mortgage loan is to take the loan in exchange of collateral security. The collateral security here means the home which is belongs to the borrower. The loan amount is depend upon the value of the home. The time period to repay the amount is of 6 months . If an borrower is unable to pay the amount, than bank or financial institution has the right to recover the loan amount by selling the house property of the borrower, and also it does not entertain with the monthly payments.

irakobra [83]3 years ago

5 0

A reverse mortgage is a product offered by a bank to provide liquidity for people who are typically in retirement. The basic idea of a reverse mortgage is for the homeowner to use their equity as a source for retirement income. When the owner of the property dies, the bank must be paid back on that loan.

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Match the job titles with the career clusters

Lerok [7]

Business Management and Administration: general manager and executive secretary

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4 years ago

Read 2 more answers

A privately owned summer camp for youngsters has the following data for a 12-week session: Charge per camper Fixed costs Variabl

shtirl [24]

Answer:

Results are below.

Explanation:

Giving the following information:

Fixed costs= $192,000

Unitary variable cost= $320 per week

Selling price per unit= $480 per week

To calculate the total cost, we need to use the following formula:

Total cost= fixed costs + unitary variable cost*number of units

Total cost= 192,000 + 320*number of weeks

Now, the total revenue:

Total revenue= selling price per week*Number of weeks

Total revenue= 480*x

Finally, the break-even point in units:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 192,000 / (480 - 320)

Break-even point in units= 1,200 campers

3 0

3 years ago

HUD, Co. had a beginning retained earnings of $29,825. For the year, the company had net income of $6,540 and paid dividends of

marissa [1.9K]

Answer:

$38,265

Explanation:

Beg RE = $29,825

Plus Net Income = $6,540

Minus Dividends = ($2550)

Plus New Stock = $4450

Ending RE = $38,265

6 0

2 years ago

During the year, a firm purchased $256,900 of merchandise and paid freight charges of $36,870. If the total purchases returns an

olga nikolaevna [1]

The net delivered cost of purchases is $270920

Explanation:

The given data in the question is as follows:

purchases = $256900, freight charges paid = $36870, purchase returns and allowances = $13690, purchase discounts = $9160

The net delivered cost of purchases is calculated as follows:

Purchases plus frieght charges minus purchase returns and allowances and minus purchase discounts

Purchases = $256900

add: freight charges paid = $36870

less: purchase returns and allowances = $13690

less: purchase discounts = $9160

net delivered cost = $270920

Therefore, the correct answer is $270920

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3 years ago

8. Problems and Applications Q8

Liono4ka [1.6K]

The quantity of manufacturing workers demanded will fall, the wage of manufacturing workers will rise and the quantity of manufacturing workers supplied will rise.

<h3>What does a union among workers represent in economy?</h3>

In the macroeconomic model, a union among workers will increase the wage rate, thereby the supply of manufacturing workers will also increase.

This phenomenon is associated with a decrease in the demand and quantity of manufacturing workers.

In conclusion, the quantity of manufacturing workers demanded will fall, the wage of manufacturing workers will rise and the quantity of manufacturing workers supplied will rise if manufacturing workers formed a union.

Learn more about the macroeconomic model here:

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2 years ago