Question: A house in foreclosure is auctioned for $ 4 0 0 , 0 0 0 dollars. There is a $ 3 5 , 0 0

A house in foreclosure is auctioned for $400,000 dollars. There is a $35,000 tax lien, $20,000 mechanic's lien, $320,000 first mortgage and a $40,000 second mortgage. How much is the holder of the mechanic's lien likely to receive?
Integer, decimal, or E notation allowed
A house in foreclosure is auctioned for $400,000 dollars. There is

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

The Western Pennsylvania Milk Company is producing milk at a fixed rate of 5,000 gallons/hour. The company's clients request 100,000 gallons of milk over the course of one day. This demand is spread...

Q:

Reba Dixon is a fifth-grade school teacher who earned a salary of $38,000 in 2021. She is 45 years old and has been divorced for four years. She receives $1,200 of alimony payments each month from...

Q:

Need this to be answer VERY VERY urgently, the necessary information is provided. Please calculate the WACC and incremental free cash flows because i am very confused FIN1FOF - FUNDAMENTALS OF...

Q:

MH0007 0 0 7 7645065 Ca s ey B u rt Fra nk T. R o tha e rm e l Bank of America (in 2010) and the New Financial Landscape Stephanie Milner spent the fall and winter of 2008-2009 like many Americans,...

Q:

1. Sally submits a loan application to Honest Bank. Over the next few days, she has several phone conversations with Honest Bank about the application. One week after filing her application, she...

Q:

You are evaluating the following two projects: Year-End Cash Flows (5 thousands) Project 0 1 2 - 40 25 25 Y - 85 42 63 Use the incremental IRR to determine the range of discount rates for which each...

Q:

John sold his bicycle to April for $100. John prepared the following document which was signed by John and April: Dated: February 5, ZOXX. The undersigned, John Smith, hereinafter "Seller," sells to...

Q:

I'm having issues with the itemized deductions section - I am coming up with $22,778 when the answer should be $23,238. Can you assist me? INDIVIDUAL TAX RETURN PROBLEM 5 Required: Use the following...

Q:

How does debt add value to CPK? fill the table. 2. How does debt add value to CPK? a. Add the following values to the table provide in Exhibit 9 and complete it pm for the actual scenario and the...

Q:

A real estate agency collects some basic data on recent home sales, which can be found in the "HomePrices" file. The variables are: Size - the size of the house, in square feet Age - the age of the...

Q:

Salaam sir, You have helped me previously with a tax return problem, and now I have another problem set that builds upon the previous problem. I am wondering if you can take a look at the attached...

Q:

Soil and Environment AGSC-203 Homework the following soil orders from the least to the most highly weathered: Oxisols, Alfisols, Mollisolls, Entisols, and Inceptisols. 2)What is the principal soil...

Q:

a. After 6 months of production, the company has been able to post the mid-year sales figures presented in the table below. Using the exponential smoothing factor of a= 0.40, forecast the sales in...

Q:

MSils considering efiminating a product from its Tosdiflown Tous coltection. This collection is aired at children one to Bree year of age and incluses "tours' of a hypothetical town. Teo products....

Q:

10) For a bond that pays cash interest (i.e., not a zero coupon bond), YTM is (a) always equal to the coupon rate (b) always equal to the current yield (c) is always less than the coupon rate (d) can...

Q:

How can you follow the principles of business communication in your composing efforts and still reflect your own personality in your messages? (Objective 5)

Q:

Keep related words together. Revise the following sentences to show a clear relationship between the modifiers and the words they modify. a. Emilios CAT scan was read by a radiologist in India...

Q:

Use short words. Use a print or electronic thesaurus or dictionary to select short words to replace these long words: (a) whimsical, (b) facsimile, (c) consolidate, (d) reproduction, (e) reasonable,...