Foreclosure hypos .edu
" "Home equity mtg" for $390K 30-yr ARM" $1644 @ 3pct" $2338 @ 6 pct" Kept $300K in bank @ 3.5%= $875/mo" SS benefit=$917/mo. 7. She sells, for $400K" What does buyer get" What does she have afterward. 8. Deal is that buyer pays Mother Hubbard $1644 per month; Mother Hubbard continues as mortgagor" Interest rates go up to 6%; MH defaults ................
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