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The purchase price of a property is $500,00. The buyer's financials are as follows:The buyer put $50,000 in escrowThe buyer has $50,000 of his own moneyThe buyer is assuming the seller's mortgage of $85,000The buyer is acquiring a new mortgage of $225,000The buyer has decided to ask the seller to take back a mortgage. How much would the mortgage be if the seller takes back a purchase money mortgage from the buyer?
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