Morey purchased a house for $150,000,paying $15,000 in cash and giving a mortgage to BigBank for the balance.When Morey defaulted on the loan,BigBank foreclosed and sold the house for $25,000 less than Morey owed.Morey believed he no longer owed BigBank any money.Discuss the case.
Morey still owes money to BigBank.If property must be sold to satisfy a secured debt and the sale of property does not satisfy the whole debt,the debtor still owes the balance amount (unless it is a nonrecourse mortgage).
BG
Answered
In How to Win Friends and Influence People, Dale Carnegie prescribed all of the following principles EXCEPT
A) showing interest in others. B) not being a complainer. C) studying psychology. D) remembering people's names. E) helping people feel important.