How do we receive the government mortgage bailout money available up to $50,000 or 6 months mortgage payments?
833.3333
An amortization table would give you the answer. If this is a real life situation and you are in the US you would be getting screwed at this rate of interest.
5400.00
it would be $5.00 per week
6000 is the interest for 4 months on a 50000 note. 1500 is the interest for 1 month at a rate of 9 per year which gives 18000 per year.
Excel's PV (Present Value) formula easily answers the question: Formula arguments to be used as per below: rate: 0.1 (10%) nper (number of periods): 20 pmt (payment): 50,000 =PV (0.1, 20, -50000) i.e. $425,678.19 If one were to receive the payments at the beginning of the period, then: type: 1 =PV (0.1, 20, -50000, , 1) i.e. $468,246.00
Yes, but only if you receive a 15000 kickback. ok
Sell or ask 50 friends to give you $1000.
About 8 years and 4 months.
Hold on to your money. Don't be quick to run out and pay everyone off, get copies of your credit file from all 3 CRA's. Go over each one line by line, and start your credit repair journey, it doesn't happen overnight or there is no magic letter your can write to make things disappear, it just doesn't work like that. In order to get a mortgage you have to be credit worthy, good credit history, income, time on your job etc. having 50k along with those thing I just mentioned makes it that much sweeter for you.
If you just went through a foreclosure I know of no one that will give you a mortgage for a number of years. I tell people to sell the home before it goes to auction.
33% of 50000= 33% * 50000= 0.33 * 50000= 16,500