Answer:
$60,410
Explanation:
The computation of the maximum borrowing amount is shown below:
= Home worth for today × borrowing percentage - remaining mortgage balance
= $164,000 × 68% - $51,000
= $111,520 - $51,000
= $60,410
We simply take the difference between the borrowing amount and the remaining mortgage balance in order to find out the maximum borrowing amount
