Question

Precise detailed but brief about MSG Foundation  founded after the passing of Martha Stocken Greengage

Answer 1

The MSG Foundation Case Study was founded when a woman named Martha Stocken Greengage died at age 87. She left $2.3 billion to charity and the MSG Case Study was founded to help young couples in buying homes by supplying low-cost loans. The trustees of the MSG Foundation started to examine computerization and came up with the idea of commissioning a small software development organization. Its mission was to implement a pilot project and a software project that will perform calculations required for the funds available each week to buy homes. The first step of the case study understands the application domain and home mortgages Since not many people can pay cash to buy a home, they pay a small percentage of the purchase price out of their savings and borrow the rest of the money. This kind of loan is a mortgage when real estate is pledged as security for the loan. An example is someone wanting to buy a house for $100,000. The person who wants to buy the house pays a deposit of 10% or $10,000 and then borrows the remaining $90,000 from a financial institute like a bank in the form of a mortgage.

The terms of a mortgage are loans that need to be given in monthly installments over 30 years at an interest rate of 7.5%. The monthly payment is called principal and interest. With payments every month, the company always wants to be paid up front for lending money to the borrower. Finally, there are other costs involved in purchase a house like legal costs and various costs in buying a house, such as legal costs and various taxes. Overall, additional costs apply after signing the contract. These closing costs such as legal costs, taxes, plus the points can easily amount to $7000.