Pls help ASAP for both

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter9: Decision Making Under Uncertainty
Section: Chapter Questions
Problem 34P
icon
Related questions
Question

Pls help ASAP for both

Raphael is brokering a transaction between an investor and borrower for a second
mortgage in the amount of $98,000. Given this scenario, which of the following is
most correct?
Select one:
a. This transaction can have one or two lawyers, depending on the investor's
preference
b. This transaction requires one lawyer who can close for both the borrower
and investor
c. This transaction requires two lawyers since it is over $6,000
d. This transaction requires two lawyers since it is over $75,000
Transcribed Image Text:Raphael is brokering a transaction between an investor and borrower for a second mortgage in the amount of $98,000. Given this scenario, which of the following is most correct? Select one: a. This transaction can have one or two lawyers, depending on the investor's preference b. This transaction requires one lawyer who can close for both the borrower and investor c. This transaction requires two lawyers since it is over $6,000 d. This transaction requires two lawyers since it is over $75,000
Harry arranged a private mortgage for a borrower several months ago, and the
borrower has just informed him that she will likely miss her next mortgage
payment. Given this situation, which of the following is the most prudent next step
for Harry?
Select one:
a. Contact the investor and advise her of the situation and ask how she wants
to proceed
b. Advise the investor that it is likely she will need to begin the power of sale
process shortly
c. Wait to see if the borrower does, in fact miss her next mortgage payment
d. Advise the borrower that she must make her payment, or the investor will
foreclose on the property
Transcribed Image Text:Harry arranged a private mortgage for a borrower several months ago, and the borrower has just informed him that she will likely miss her next mortgage payment. Given this situation, which of the following is the most prudent next step for Harry? Select one: a. Contact the investor and advise her of the situation and ask how she wants to proceed b. Advise the investor that it is likely she will need to begin the power of sale process shortly c. Wait to see if the borrower does, in fact miss her next mortgage payment d. Advise the borrower that she must make her payment, or the investor will foreclose on the property
Expert Solution
steps

Step by step

Solved in 4 steps

Blurred answer
Similar questions
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,