Question
Maria has a home which she purchased for $480,000 ten years ago and was currently appraised at $826,000. Her mortgage balance is $317236 . Now
Maria has a home which she purchased for $480,000 ten years ago and was currently appraised at $826,000. Her mortgage balance is $317236 . Now that she has two children in university she wants to take out a Home Equity Line of Credit (HELOC) to help them with their expenses. What is the maximum HELOC she would qualify for (to the nearest dollar)?
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Finance
Authors: Angelico Groppelli, Ehsan Nikbakht
7th Edition
1438010362, 9781438010366
