Quiz File Business Management Joe needs some cash to operate his greenhouses. He owes $12,000 to a mortgage company on his property but it is worth $300,000. Since the $12,000 loan is at 3.5% and current rates are at 13%, he does not want to give that loan up. How can he borrow money against his property?

Joe needs some cash to operate his greenhouses. He owes $12,000 to a mortgage company on his property but it is worth $300,000. Since the $12,000 loan is at 3.5% and current rates are at 13%, he does not want to give that loan up. How can he borrow money against his property?

Business Management

Joe needs some cash to operate his greenhouses. He owes $12,000 to a mortgage company on his property but it is worth $300,000. Since the $12,000 loan is at 3.5% and current rates are at 13%, he does not want to give that loan up. How can he borrow money against his property?

Answer: with a second mortgage

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Quiz File

Joe needs some cash to operate his greenhouses. He owes $12,000 to a mortgage company on his property but it is worth $300,000. Since the $12,000 loan is at 3.5% and current rates are at 13%, he does not want to give that loan up. How can he borrow money against his property?

Joe needs some cash to operate his greenhouses. He owes $12,000 to a mortgage company on his property but it is worth $300,000. Since the $12,000 loan is at 3.5% and current rates are at 13%, he does not want to give that loan up. How can he borrow money against his property?

Learn More :

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