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Ramon owns a home that was appraised for 132,600. The balance remaining on his existing mortgage is 43,260?
Posted on February 22nd, 2010 3 comments
animalhappy asked:
Ramon’s credit union is willing to loan an amount up to 70% of the appraised value of a home. Based on this information what is themaxium potential amoung of credit that’s available to Ramon for a home equity loan
PRESTON3 responses to “Ramon owns a home that was appraised for 132,600. The balance remaining on his existing mortgage is 43,260?”
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I think the point of this problem is so YOU can learn how to do it. When you’re in Ramon’s position, you will know how to solve it. You know, seeing how it’s your homework. Not yahooanswers homework.
That said, it’s $49,560. Douchebag.
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☼AstrologerJuliAnne☼ February 22nd, 2010 at 22:58
$92,820
$49,560 if they deduct what he owes on the 1st mortgage.
132600 x 70% = first answer
92820 minus 43260 = second answer -
Alterfemego February 26th, 2010 at 10:51
Do you practice being this way?
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Adam D February 22nd, 2010 at 21:11