What is equity

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What is equity

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

How do I know how much equity I have.

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Re: What is equity

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

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

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Re: What is equity

Post  Nini Stone on 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.

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Re: What is equity

Post  Marc Johnson on 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.

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