You own a home that has a market value of $145,000. There is a first mortgage on the property in the amount of $80,000. Interest rates are currently 7% and the rate on your loan is 4.5%. You wish to sell the property, but are curious about how the sale can be financed. What suggestions?


?Students should consider the pros and cons of the following:
Assumption (cash to mortgage)

Wrap?around

Carry?back

Installment contract

Second mortgage

Refinancing

Interest only mortgage

Pick-a-pay mortgages

Business

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