Business, 14.11.2019 02:31 kissyalexen
Rosie malone sold her house to d. m. band. the contract was signed june 1, 2004, and closing was set for june 25, 2004. rosie had prepaid her three-year hazard insurance policy in the amount of $425.00 on april 1, 2003, and d. m. agreed to assume it at closing. water and sewer are paid the first of each month for the
previous month. they are estimated to total $100 for june. d. m. also agrees to assume rosie's
mortgage, which will have a balance of $85,385 on date of closing. monthly payments are $817.83 payable on the first of the month for the previous month.
1. the seller is responsible for day of closing.
2. how would the hazard insurance premium be prorated?
3. how would the water and sewer charges be prorated?
4. how will the mortgage assumption be entered?
5. how will the monthly mortgage payment be prorated?
Answers: 2
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Rosie malone sold her house to d. m. band. the contract was signed june 1, 2004, and closing was set...
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