Business, 07.11.2019 05:31 antmike31ox1v8e

8. sam bought a house that costs $500,000. sam got a 96% ltv loan. the lender demanded that sam buy private mortgage insurance to insure the portion of the loan over 75% ltv. suppose 5 years later, sam’s mortgage balance is $400,000. however sam defaults and his house sells for $220,000 in a foreclosure auction. how much will the mortgage insurance company pay sam’s lender?

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8. sam bought a house that costs $500,000. sam got a 96% ltv loan. the lender demanded that sam buy...