Question: Your client, Doug, asks you to tell him more about home equity indebtedness. What can you tell Doug? Unset starred question Home equity indebtedness is

Your client, Doug, asks you to tell him more about home equity indebtedness. What can you tell Doug?
Unset starred question
Home equity indebtedness is the difference between the fair market value and the second mortgage amount.
Home equity indebtedness is the difference between the fair market value of the home and the acquisition debt.
Home equity indebtedness is the difference between the list price and the sale price.
Home equity indebtedness is the difference between the purchase price and the acquisition debt.

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