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For the purpose of calculating the Loan-to-Value Ratio of any Mortgage Loan that is the result of the refinancing including a refinancing for "equity take out" purposes of an existing mortgage loan, the appraised value of the related Mortgaged Property is generally determined by reference to an appraisal obtained in connection with the origination of the replacement loan. Median Price for a House in Illinois Is Stable at $200,000, as The Mortgage Rates Are Low. Wachovia Securities expects modest economic gains over the next few months, as the economy continues to digest the unwinding of housing boom and a resurgence in capital spending.
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