Multiple Choice
The market value of Karen's home is $120,000 and the balance on her mortgage loan is $80,000.The lender has agreed to let her borrow up to 75% of the total value of her home less the mortgage.How much can she borrow with a home equity loan?
A) $10,000
B) $40,000
C) $80,000
D) $90,000
E) $120,000
Correct Answer:
Verified
Correct Answer:
Verified
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