Martha and Gordon purchased a home for $175,000 six years ago with a 5.5 percent,30-year $140,000 mortgage.Their home now has a market value of $210,000 and they owe $134,000 on the mortgage.What is the equity in their home?
A) $76,000
B) $70,000
C) $41,000
D) $35,000
Correct Answer:
Verified
Q176: Aaron Jefferies has located a condominium he
Q177: Stefan and Patricia would like to buy
Q178: If you borrow money from a family
Q179: The formal legal document that outlines the
Q180: A mortgage applicant who anticipated increasing interest
Q182: Which of the following statements is true
Q183: A mortgage loan with a fixed rate
Q184: The primary disadvantage of a 15-year mortgage
Q185: How much more would one have to
Q186: A land contract is also called a
A)real
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents