Explain why a home equity mortgage loan can be a better source of funds for household needs
Question:
Explain why a home equity mortgage loan can be a better source of funds for household needs than other types of consumer debt.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (12 reviews)
Unlike interest on consumer debt interest paid on the first 100000 of a home equity loan is f...View the full answer
Answered By
Bhartendu Goyal
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions. I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life. I have also done one-to-one tutoring with 100+ students and help them achieve great subject knowledge. I have expertise in computer subjects like C++, C, Java, and Python programming and other computer Science related fields. Many of my student's parents message me that your lessons improved their children's grades and this is the best only thing you want as a tea...
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Real Estate Principles A Value Approach
ISBN: 978-0077836368
5th edition
Authors: David C Ling, Wayne Archer
Question Posted:
Students also viewed these Business questions
-
1. Given the language of the time frame notice, do you agree with the courts statements that it was clear and that objectively reasonable consumers would not be confused by it? Why or why not? 2. The...
-
1. Is the Smiths loan covered by the Truth-in-Lending Act as amended by the Home Ownership and Equity Protection Act? Why or why not? 2. Do the Smiths have a right to rescind the loan two weeks after...
-
Several years ago, Magdelena purchased a new residence for $300,000. Currently, the outstanding mortgage on the residence is $260,000. The current fair market value of the home is $330,000. Magdelena...
-
To the right is the graph of the position of the object versus time: Which of graphs below correctly shows the object's velocity versus time? velocity (m/s) velocity (m/s) 1.5 1 0.5 -0.5 -1 -1.5 15...
-
The supply function for a product is given by p = 40 + 100 2x + 9, where x is the number of units supplied and p is the price in dollars. If the price is increasing at a rate of $1 per month, at what...
-
A table of properties for methyl chloride lists the saturation pressure as 116.7 psia at 100oF. At 100oF, this table also lists hfg = 154.85 Btu/lbm, and vfg = 0.86332 ft3/lbm. Estimate the...
-
The British statistician Ronald Fisher introduced a famous data set called Fishers Iris data set. This data set describes various physical characteristics, such as petal length and petal width (in...
-
Your friend, Diana Wood, recently completed the second year of her business and just received annual financial statements from her accountant. Wood finds the income statement and balance sheet...
-
The wind power density is the power in the wind per unit area. Using your learning resources, calculated the wind power density given an air density of 1.16 kg/m 3 and a windspeed of 3.9 m/s,
-
Let X be the winnings of a gambler. Let p(i) = P(X = i) and suppose that Compute the conditional probability that the gambler wins i , i = 1, 2, 3, given that he wins a positive amount. 1/3: p(1) %3...
-
On an adjustable rate mortgage, do borrowers always prefer smaller (i.e. tighter) rate caps that limit the amount the contract interest rate can increase in any given year or over the life if the...
-
Distinguish between conforming and nonconforming residential mortgage loans and explain the importance of the difference.
-
Solve the given equations, all numbers are approximate. 0.24(C 0.50) = 0.63
-
Draw temperature curves dry air parcels that we release with temperatures of 22C and 24C at the ground. The y-curve in the graph describes the environmental temperature profile. At what altitudes do...
-
Yori Limited issued a dividend of $6.09 yesterday. It expects dividends to grow at a steady rate of 5.63% per annum for many years going forward. If the discount rate for these shares is 11.39% per...
-
If 273.8 years pass, and an isotope of a certain element decays, what percent is left? The half life of the isotope is 122.4 years. Round your answer to the tenths position.
-
Using a normal distribution to model asset prices is a good approximation for low volatilities or short time horizons. What is the weakness of using a normal distribution to model asset prices for...
-
Two small electrified objects A and B are separated by 0.03 m, and repel each other with a force of 4.0x10^-5 N. If we move body A an additional 0.03 m away, what is the electric force now?
-
Determine an Euler path that begins with vertex F. Use the following graph. A B DO
-
Suppose the market is semistrong form efficient. Can you expect to earn excess returns if you make trades based on? a. Your brokers information about record earnings for a stock? b. Rumors about a...
-
Explain the innocent landowner defense as defined by CERCLA?
-
What is an ASTM transaction screen?
-
Discuss the EPAs asbestos-managing plan for building owners. What threat is considered the new asbestos?
-
Total Labor- Square Feet of Department Hours Space Occupied Number of Employees Machine- Hours Direct Labor- Hours Personnel 16,000 12,400 22 Custodial Services 8,200 3,100 49 Maintenance 14,300...
-
6. Given the Venn Diagram, find (AUB)NC A B a W b Y N X C C
-
Prepare one-page description of the company and a one-page description of the project. In the project description, please list all the key stakeholders who will attend the project kickoff meeting....
Study smarter with the SolutionInn App