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 If the lenders call back their loans, what is the value of the homeowner's equity assuming no amortization of $76,000. the loan?