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Question
An overencumbered property would be one with a market value ofa. $125,000 with a first mortgage of $75,000 and a second mortgage of $26,000.
b. $375,000 with a first mortgage of $25,000 and a second mortgage of $200,000.
c. $120,000 with a first mortgage of $110,000 and a second mortgage of $15,000.
d. $49,500 with a first mortgage of $20,000 and a second mortgage of $1,000 and a third mortgage of$2,000.
Answer
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Related questions
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When real property is taken by means of eminent domain, the government has to pay the landowner fair market value.
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Q:
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Q:
A man bought a home two years ago and sold it a year later. You would expect to find his name and a reference to the home in the mortgagee index.