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Equity

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Sam Site Admin Joined: 21 May 2005 Posts: 198 Location: CALIFORNIA 92.34 Dollars($)	Posted: Tue Mar 30, 2004 4:31 am    Post subject: Equity Equity is an owner's financial position in a property. Equity is the difference between the fair market value of a property and the unpaid principal balance of the mortgage and any liens. It is also known as an ownership interest- the value an owner has in real estate over and above the obligation against the property. For example, let the fair market value of a property be $500,000 and let the unpaid principal balance of the mortgage be $200,000. Therefore, Home Equity = Fair market value - Unpaid principal balance of the mortgage Home Equity = $500,000 - $200,000 Home Equity = $300,000 Related Articles Home Equity Loan - A fixed rate second mortgage HECM - The only Reverse Mortgage Insured by the FHA
Tina Guest 0.10 Dollars($)	Posted: Tue Sep 25, 2007 1:03 pm    Post subject: Home Equity Is there such a loan where you can take out loan and have the loan paid back to the bank when the house is sold? I bought my house in Brentwood Contra Costa area 10 years ago for the price of $229,000 and I would say my house could sell easy for $500,000 or more. We would like to make some improvements, but don't want to add more to our monthly mortgage payment now. We owe about $198,000 still on the house
larry Joined: 27 Jun 2007 Posts: 2598 349.41 Dollars($)	Posted: Tue Sep 25, 2007 10:24 pm    Post subject: Hi Tina, Its seems that you have already asked a similar question earlier. I've replied you there. To view my reply, you may refer to http://www.mortgagefit.com/know-how/payloan-homesale.html

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