What is the difference between construction and permanent financing?
What will be an ideal response?
Construction financing represents the funds provided to cover the out of pocket costs of construction and are usually released by the lender based on the percentage of the completion of the project. Permanent financing comes from lenders who do not want the risk inherent in financing a construction project that may never be completed. Permanent lenders will only finance the completed project, but will agree to pay off the construction lender upon completion.
You might also like to view...
Assets include all of the following except:
a. real property. b. personal property. c. real and personal property owned jointly. d. outstanding mortgages.
The return of service information on a trial subpoena must be completed and filed with the court before the subpoena is valid.
a. true b. false
The debtor must have a present possessory right in the property for it to be considered property of the estate.
Answer the following statement true (T) or false (F)
Central High School contracted to rent the Grand Hotel's ballroom for its Senior Prom. Several days before the night of the prom, a flu epidemic spread throughout the high school and the prom was cancelled. The Hotel sued Central High alleging that it breached the contract by cancelling the contract. Central High could respond:??
A. ?no breach, compliance B. ?no breach, excuse C. ?no breach, justification D. ?no breach, duty discharged