We financed a house for $60k, then found out it appraised at $35k. Could we pursue any legal repercussions against the bank for this?
Financing a house
In order to buy a house, there are many ways one could finance the purchase. While the purchase of the house could be done with equity and/or debt. financing a house if often used in the context of using debt to purchase a house.
Answer and Explanation:
If one has financed a house for $60k, then found out that it appraised for $35k, and desire to pursue legal actions against the bank, one must approach a lawyer in order to receive professional legal advice. The lawyer would be able to chalk out a plan for the future course of action.
Become a member and unlock all Study Answers
Try it risk-free for 30 daysTry it risk-free
Ask a question
Our experts can answer your tough homework and study questions.Ask a question Ask a question
Learn more about this topic:
from Finance 102: Personal FinanceChapter 7 / Lesson 4