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.
It found that the average first-time buyer is having to wait an extra year before buying, while their average age has climbed from 29 in 2011 to 30 last year. Halifax said the average young buyer bought their home for Â£156,701 in 2013, taking out a mortgage of Â£125,758 and putting down a deposit of Â£30,943.