Homework Help is Here – Start Your Trial Now!
Business
Management
Pls help ASAP for both

Pls help ASAP for both

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
See similar textbooks
icon
Related questions
Question

Pls help ASAP for both

Raphael is brokering a transaction between an investor and borrower for a second mortgage in the amount of $98,000. Given this scenario, which of the following is most correct? Select one: a. This transaction can have one or two lawyers, depending on the investor's preference b. This transaction requires one lawyer who can close for both the borrower and investor c. This transaction requires two lawyers since it is over $6,000 d. This transaction requires two lawyers since it is over $75,000
Transcribed Image Text:Raphael is brokering a transaction between an investor and borrower for a second mortgage in the amount of $98,000. Given this scenario, which of the following is most correct? Select one: a. This transaction can have one or two lawyers, depending on the investor's preference b. This transaction requires one lawyer who can close for both the borrower and investor c. This transaction requires two lawyers since it is over $6,000 d. This transaction requires two lawyers since it is over $75,000
Harry arranged a private mortgage for a borrower several months ago, and the borrower has just informed him that she will likely miss her next mortgage payment. Given this situation, which of the following is the most prudent next step for Harry? Select one: a. Contact the investor and advise her of the situation and ask how she wants to proceed b. Advise the investor that it is likely she will need to begin the power of sale process shortly c. Wait to see if the borrower does, in fact miss her next mortgage payment d. Advise the borrower that she must make her payment, or the investor will foreclose on the property
Transcribed Image Text:Harry arranged a private mortgage for a borrower several months ago, and the borrower has just informed him that she will likely miss her next mortgage payment. Given this situation, which of the following is the most prudent next step for Harry? Select one: a. Contact the investor and advise her of the situation and ask how she wants to proceed b. Advise the investor that it is likely she will need to begin the power of sale process shortly c. Wait to see if the borrower does, in fact miss her next mortgage payment d. Advise the borrower that she must make her payment, or the investor will foreclose on the property
Expert Solution
steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Understanding Business
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Management Information Systems: Managing The Digi…
Management Information Systems: Managing The Digi…
Management
ISBN:
9780135191798
Author:
Kenneth C. Laudon, Jane P. Laudon
Publisher:
PEARSON
Business Essentials (12th Edition) (What's New in…
Business Essentials (12th Edition) (What's New in…
Management
ISBN:
9780134728391
Author:
Ronald J. Ebert, Ricky W. Griffin
Publisher:
PEARSON
Fundamentals of Management (10th Edition)
Fundamentals of Management (10th Edition)
Management
ISBN:
9780134237473
Author:
Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:
PEARSON
SEE MORE TEXTBOOKS