Loan on a private residence in pennsylvania

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Reference no: EM132043533

Suppose that you are a lender and that you have issued a loan on a private residence in Pennsylvania. The borrower has defaulted on this mortgage and you have invoked the acceleration clause. The OMB, including accrued fees, is $319,000. There is also a property tax lien of $7,500 and a workman's lien of $4,300 on the property.

What are the formulas I need to find out how much I would be able to recover by selling the property for $327,500 ? I do not want you to give me the result, simply what the calculations are to find that out

Reference no: EM132043533

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