FinancingCreative_financingHARD
A seller still owes $145,000 on an existing mortgage and agrees to create a wraparound note that includes that old balance plus $50,000 of additional seller financing. What is the total wraparound note amount?
Correct Answer
D) $195,000
Add the existing balance and the new seller-financed portion: $145,000 + $50,000 = $195,000.
Answer Options
A
$95,000B
$7,250,000,000C
$50,000D
$195,000Why This Is the Correct Answer
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Related Topics & Key Terms
Key Terms:
creative_financingwraparoundcreative_financing_mathseller_financing
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