Mortgage payments have been made by fredrick

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Fredrick purchased a property worth $150,000 on mortgage. He had paid $30,000 as a down payment on this property. However, because of a recent slump in the real estate prices, the property is worth only $110,000, forcing Fredrick to sell the property. Assuming that no mortgage payments have been made by Fredrick, this sale is termed a(an) _____.

fixed mortgage sale

real estate short sale

real estate declining equity

shrinking principal sale

indexed equity

Reference no: EM131625293

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