Ahomeownerpaid$40,000fortheirhome.Afterrefinancing,theownerowes$180,000.Ifthebankwillprovidehomeequityloansupto80%ofthevalueofthehomeandthemaximumthehomeownercanborrowis$50,000,whatisthevalueofthehome? $250,000 $287,500 $270,000 $1,150,000
Fantastic news! We've Found the answer you've been seeking!
Question:
- Ahomeownerpaid$40,000fortheirhome.Afterrefinancing,theownerowes$180,000.Ifthebankwillprovidehomeequityloansupto80%ofthevalueofthehomeandthemaximumthehomeownercanborrowis$50,000,whatisthevalueofthehome?
- $250,000
- $287,500
- $270,000
- $1,150,000
Posted Date: