Your calculations are correct, bank will loan up to 70 LTV less first mortgage balance.

My wife and I update our balance sheet every month and have different growth goals that we track.

Evicting them won't be cheap, but that might save some money.Also, please remember to get a judgment against them for the outstanding balance.

In general the IRS does not allow married couples to deduct home mortgage interest on loan balances above $1,000,000 ($500,000 for single).  

This was effectively a 6% risk free interest rate arbitrage thats been running for close to five years now.now I'm in graduate school and get them at 6% (interest accrues immediately), I've used it for remodels and down payments. when your done with school, you can opt for the balance to convert to a 30-year Amort.

I transferred my credit card debt with 21+% interest into balance transfer credit cards allowing me to pay off my credit card debt without paying interest (that would later negatively effect my credit score, little did I know, due to opening new lines of credit--C'Est la Vie!)  

We pay a small percentage of our income for 10 years, and at the end of the 10 year period, the balance is forgiven.

I'm  still trying to get clarification on the balance of her mtge.  

The house requires 800 square feet of vinyl / laminate wood imitation flooring, with the balance going to carpet. 

It's all a balancing act.