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What is the value of the homeowner equity

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Question - A first-time homeowner pays a down payment of $27,000 for a house that is funded by a bank loan of $55,000 and a junior debt of $13,000. After 2 years, due to a market downturn, the market value of the house falls to $76,000. If the lenders call back their loans, what is the value of the homeowner's equity assuming no amortization of the loan?

Reference no: EM133095974

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