Value of Home |
$75,000 |
||
| Existing Loan | 8.5% interest |
$30,000 |
|
| Home Equity Loan | 18% interest |
$30,000 |
|
Remaining Equity |
$15,000 |
||
Seller's Monthly Payment |
to Loan Co. #1 |
$ 230.67 |
|
to Loan Co. #2 |
$ 452.13 |
||
| Total | $ 682.80 |
||