Home Equity

December 17, 2013  |     |     |   0 Comment

Home equity is the percentage of a home that is owned free and clear by the homeowner. It is the difference between the current market value of the house and any mortgage debt left on the house.

The majority of people have most of their net worth in their home and they can borrow money from lenders by using this home equity. This is called a home equity loan.


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