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16 October, 18:46

A property is encumbered as follows: First mortgage A, 441,433 Second mortgage B, 81,910 Third mortgage C, 14,512 How much can mortgagee B pay for the property at a foreclosure sale without having to raise additional funds?

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  1. 16 October, 19:56
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    Mortgagee B pay for the property following amount;

    441,433 + 81,910 = 523,343

    Note:

    As it is already given in the question that B pays for property at a foreclosure sale and also not raising additional funds.

    So it is quite straight that B pay for the property $523,343

    Mortgagee B pay for the property at a foreclosure sale without having to raise additional funds are $523,343
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