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

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

Russ and Lois Have a Home Valued at $96,000 and an Outstanding