A young couple is applying for a loan for a new home purchase. A portion of their down payment is a loan from a Grandparent for $25,000. The money was already given to them and placed in their account three months prior to the loan application. The loan payments won't start for one year, how should the $25,000 be reported on the mortgage application?
A. Asset
B. A Liability
C. Gift of funds
D. Not reported at all
Answer: B. A Liability
Business
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Tatiana needs to hire a line manager and has a very small recruiting budget. The firm's current employees don't feel they have many advancement opportunities. It would be best for Tatiana to recruit:
A) internally. B) externally. C) former military members. D) nontraditional workers.
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*These depreciation limits are indexed annually
a. $1,776 b. $1,896 c. $4,800 d. $8,000 e. None of the above
Business