What is equity
4 posters
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Re: What is equity
Is is the amount between what your house is worth and what you owe
Lizzy B- Posts : 23
Join date : 2008-02-05
Re: What is equity
Looked it up in the dictionary: the money value of a property or of an interest in a property in excess of claims or liens against it. In otherwords if you buy a house for $10.000.00 and you owe the bank $5,000.00. If the house is still worth $10,000.00 the equity you have in the house is the $5,000.00 in payments you made.
Nini Stone- Posts : 17
Join date : 2008-02-04
Re: What is equity
If you sold your home and paid off the loan if you have one. Thats the equity you would have. If you your home is paid for then that's the equity.
Marc Johnson- Posts : 20
Join date : 2008-01-28
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