Question

A property is encumbered as follows: First mortgage A, 441,433 Second mortgage B, 81,910 Third mortgage C, 14,512 How much can mortgagee B pay for the property at a foreclosure sale without having to raise additional funds?

Answer 1

Answer:

Mortgagee B pay for the property following amount;

441,433 + 81,910 = 523,343

Note:

As it is already given in the question that B pays for property at a foreclosure sale and also not raising additional funds.

So it is quite straight that B pay for the property $523,343

Mortgagee B pay for the property at a foreclosure sale without having to raise additional funds are $523,343