Question: answer is 25,000 ans just need help solving O out of 1 points Mike purchased his home five years ago for $250,000. Its current market

answer is 25,000 ans just need help solving

O out of 1 points Mike purchased his home five years ago for $250,000. Its current market value is 2 $275,000 and has a mortgage balance of $195,000. He wants to put in a poolt and pay for it with a HELOC. If the lender requires a maximum LTV of 80%, what is the most Mike will receive from the proceeds of the HELOC? Answers: $25,000 $44,000 $55,000

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