True/False

Sam and his wife Ann purchased a home in Kowloon Tong in 1980 for $100,000. Their original home mortgage was for $90,000. The house has a current market value of $175,000. They still owe $55,000 on their home mortgage. If the loan-to-value ratio is 70%, they can get a new loan of $122,500 from the home equity line of credit.