Multiple Choice
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) $160,000
C) $76,000
D) $60,800
E) $32,800
Correct Answer:
Verified
Correct Answer:
Verified
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