Question
Leon has a home valued at $216,000 and an outstanding mortgage of $140,000. If his lender is willing to provide a home equity loan of
Leon has a home valued at $216,000 and an outstanding mortgage of $140,000. If his lender is willing to provide a home equity loan of up to 80% of market value, how much could Leon borrow using a home equity loan? a. $172,800 b. $32,800 c. $76,000 d. $60,800 e. $160,000
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Financial Literacy And Money Script A Caribbean Perspective
Authors: Christine Sahadeo
1st Edition
3319770748, 978-3319770741
