52) A promise lacks consideration if a person promises to perform an act or do something he is already under an obligation to do. This is called a(n) ________. 52) A) illusory promise B) preexisting duty C) illegal consideration D) gift promise 53) Dean Campenella is a detective with the California state police.
What about first-time home buyers or those with little to no equity? In today's market, it is prohibitive even for the most frugal of first-time home buyers to come up with a traditional down payment. Houses that sell for $200,000 would require a down payment of $20,000 to $40,000, but there are options. Let's look at some of them.
A down payment is the amount of money you spend upfront to purchase a home and is typically combined with a mortgage to fulfill the total purchase price of a home. A down payment is the amount of money you spend upfront to purchase a home and is typically combined with a mortgage to fulfill the total purchase price of a home. Topics What To Know Before You Buy