Use a Web site or a financial calculator to determine the monthly mortgage payment (excluding property taxes and insurance) on a $ 90,000 mortgage if the Sampsons obtain a new 30- year mort-gage at the 8% interest rate.
Answer to relevant QuestionsThe Sampsons expect that they will not move for at least three years. Advise the Sampsons on whether they should refinance their mortgage by comparing the savings of refinancing with the costs. Based on the information you provided, Brad decides not to buy the condo at this time. How can he save the necessary funds to purchase a condo or house in the future? Be specific in your recommendations. List and briefly describe the four packages of homeowner’s insurance that focus on insurance for the home. What is the purpose of an umbrella personal liability policy? Who might need one? Describe collision and comprehensive coverage. Is this type of coverage required by most states? Who may require this type of coverage?
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