Multiple Choice
Russ and Lois have a home valued at $96,000 with an outstanding mortgage of $60,000. If their lender is willing to provide a home equity loan of up to 75% of the market value of the home, how much can they borrow using a home equity loan?
A) $0
B) $12,000
C) $27,000
D) $28,000
E) $36,000
Correct Answer:
Verified
Correct Answer:
Verified
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