What is home equity?

6 months 1 week ago #164531 by henrywilliam
What is home equity? was created by henrywilliam
Home equity is the value of your home above the amount of debt against it. In other words, it’s the difference between the market value of your home and the amount you still owe on your mortgage. Your home is probably your greatest asset. Your home’s value is the amount of money that it would take to buy a home with the same features as yours. Home equity is the difference between the total value of your property and any outstanding debts against it.Your home equity can be used as collateral for a loan. The lender uses your home as security for the loan, meaning they can repossess and sell the house if you default on repayments.
www.dailysmarthome.com/

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4 months 2 weeks ago #164700 by Vladon
Replied by Vladon on topic What is home equity?
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