Multiple ChoicePlease read the following scenario and choose…
Multiple ChoicePlease read the following scenario and choose the best possible answer selection regarding the question below. Bob and Sally Jones own a home that is worth $200,000. They purchased the home five years ago and made consistent monthly payments on the mortgage until Bob was laid off by his employer. Bob and Sally requested a “pay off” amount on their loan to see how much they still owed. There is a current loan balance of $192,000 owed to the mortgage company. The amount of equity that Bob and Sally have built up is:
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