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

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The Answer of 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

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