Mark Clemens is purchasing Daisy Gatsby's home for $250,000. Daisy has a mortgage for $150,000 at 10.9% (obtained in 1980). Current loan rates are 14% and Mark has only $25,000 for a down payment. Mark wants to know if there is a financing method other than obtaining a new loan for $225,000 at 14%.

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The Answer of  Mark Clemens is purchasing Daisy Gatsby's home for $250,000. Daisy has a mortgage for $150,000 at 10.9% (obtained in 1980). Current loan rates are 14% and Mark has only $25,000 for a down payment. Mark wants to know if there is a financing method other than obtaining a new loan for $225,000 at 14%.

Mark Clemens Is Purchasing Daisy Gatsby's Home for $250,000