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What is equity

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What is equity Empty What is equity

Post  Cherry Pearl Tue Feb 05, 2008 9:28 am

How do I know how much equity I have.

Cherry Pearl

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Join date : 2008-01-29

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Post  Lizzy B Tue Feb 05, 2008 9:45 am

Is is the amount between what your house is worth and what you owe

Lizzy B

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Join date : 2008-02-05

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Post  Nini Stone Tue Feb 05, 2008 10:08 am

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

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Join date : 2008-02-04

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Post  Marc Johnson Thu Feb 07, 2008 10:35 am

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

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Join date : 2008-01-28

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