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The LTV ratio increased - if a homeowner borrowed $175,000 for a house worth $200,000, then the LTV ratio was 150,000 divided by 200,000 or 75%.
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Fortunately, there are a ton of ways to raise funds quickly, whether you want to use it for a weekend getaway to Miami or your daughters college education.As an extreme example, if you decided to pay off the loan after one month, youd only owe interest for that one month and principal amount you borrowed, 1000 payday loan.
- A basis point is one-hundredth of a percentage point.
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