Question: Fredrick purchased a property worth $ 1 5 0 , 0 0 0 on mortgage. He paid $ 3 0 , 0 0 0 as

Fredrick purchased a property worth $150,000 on mortgage. He paid $30,000 as a down payment on this property. However, a recent slump in real estate prices forced Fredrick
to sell the property for $115,000 only 2 months later. This sale is termed a(n):
indexed equity.
real estate declining equity.
fixed mortgage sale.
shrinking principal sale.
real estate short sale.
Fredrick purchased a property worth $150,000 on mortgage. He paid $30,000

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:

Robert and Lisa Franklin Case Personal and Financial Objectives: 1.) Robert plans to retire now and begin his retirement by traveling around the world with Lisa. 2.) Robert plans to sell his share of...

Q:

Frenchies: Creating and Using a Master Budget BACKGROUND Frenchies is a medium-sized regional bakery that specializes in providing orders to grocery and convenience stores. Because of the popularity...

Q:

number 4 and 5. proposed transaction and, after investigation, Banks and Johns were charged with and convicted of criminal traud. Johns argued that the second mortgage by which Banks received the...

Q:

of 2 + D Edit with A Recently, the real estate market is hot, but the interest rate on mortgages keeps increasing. Now you work as a financial advisor and one client, Abby, comes to you regarding the...

Q:

Newlyweds Jamie Lee and Ross have had several milestones in the past year. They are newly married, recently purchased their first home, and now have twins on the way! Jamie Lee and Ross have to...

Q:

Transaction Analysis and Trial Balance Huff & Company, Electrical Contractors began operations on May 1. The following transactions occurred during the month of May: 1 Stockholders invested $65,000...

Q:

Pharoah Products, a rapidly growing distributor of home gardening equipment, is formulating its plans for the coming year. Steven Garcia, the firm's marketing director, has completed the following...

Q:

Question 4 Answer saved Marked out of 93.00 Flag question Transaction Analysis Grace Stewart began the Stewart Answering Service in December. The firm provides services for professional people and is...

Q:

NEED HELP WITH T-ACCOUNTS AND TRIAL BALANCE Transaction Analysis and Trial Balance Make T-accounts for the following accounts that appear in the general ledger of Mead Pet Hospital owned by R. Mead,...

Q:

Really having trouble completing this example. Thank you in advance for your time! Transaction Analysis and Trial Balance Make T-accounts for the following accounts that appear in the general ledger...

Q:

Granite Company purchased a machine costing $131,000, terms 3/10, n/30. The machine was shipped to the FOB shipping point and the freight charges were $3,100. The machine requires custom assembly and...

Q:

The data set in DS 14.1.2 shows the results of an experiment performed to investigate how the deviation from specification of the width of a contact lens at its center point may depend on the type of...

Q:

4. Ethanol, CHOH, can be manufactured by two different processes. process 1 the catalysed addition of steam to ethene process 2 the fermentation of glucose Describe a chemical test which could be...

Q:

Which IDS method looks for patterns in network traffic and compares them to a database of known threats? Behavioral - based Anomaly - based Signature - based Heuristic