Buyer betty is assuming seller sal's existing mortgage. the unpaid principal balance of the assumed loan shows as:_______

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18-08-2022
Social Studies

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Buyer betty is assuming seller sal's existing mortgage. the unpaid principal balance of the assumed loan shows as:_______

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anshumanaryan799 anshumanaryan799 · Answer 1 · 2022-08-24T15:41:04+02:00

Buyer betty is assuming seller sal's existing mortgage. the unpaid principal balance of the assumed loan shows as a debit to the seller because the seller must pay it off at closing.

The outstanding principal balance is the portion of the loan that has not yet been repaid by the borrower to the lender. This balance represents the lender's remaining default risk.

The current principal balance is the original loan amount outstanding, net of unpaid interest or loan costs. The principal offer is the total amount the loan must be repaid, including interest and/or financing costs.

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