Addition to the proceeds from the home sale

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Reference no: EM13741794

If homeowners purchased a $250,000 home with a zero-down, interest-only mortgage, and the value of the home subsequently fell to $200,000, in order to sell the house and move to another city, the homeowners would be required at closing to pay (in addition to the proceeds from the home sale):

A. nothing.

B. $50,000.

C. any transaction costs and real estate fees.

D. $50,000 plus any transaction costs and real estate fees.

Reference no: EM13741794

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