The borrowers First Mortgage Balance is $200,000. They are going to subordinate a HELOC that has...
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The borrowers First Mortgage Balance is $200,000. They are going to subordinate a HELOC that has a Current balance of $50,000 and a total Line amount of $75,000. The property appraised at $550,000. What are the HCLTV, LTV, and CLTV? The borrowers First Mortgage Balance is $200,000. They are going to subordinate a HELOC that has a Current balance of $50,000 and a total Line amount of $75,000. The property appraised at $550,000. What are the HCLTV, LTV, and CLTV?
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To calculate the HCLTV LTV and CLTV we need to first determine the value of the proper... View the full answer
Related Book For
Managerial Accounting
ISBN: 9781259275814
11th Canadian Edition
Authors: Ray H Garrison, Alan Webb, Theresa Libby
Posted Date:
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