How much would the contractor receive

Reference no: EM133273775

Question - John and Mary Rose Tester have had their home taken in a foreclosure. They owe $92,000 on their original mortgage and $8,000 on their second mortgage. A contractor they hired to add on a screened porch is owed $2,000 and the contractor has filed a lien. The lender has spent $4,000 in bringing the foreclosure suit. The sale at foreclosure brings $99,000. How much would the contractor receive?

Reference no: EM133273775

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