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What Is Equity?
Question: What is "equity?"
Answer: In general terms, equity is the difference between the value of your property and all debt secured by the property. A more conservative view has equity as the value of your property less debt and marketing costs. Example: If you have a home worth $200,000 and a $125,000 mortgage, the equity is $75,000.
Written by Peter G. Miller.
© 1997 Peter G. Miller. All Rights Reserved. Rules, Disclaimers & Notices.
Copyright © 2009 Realty Times. All Rights Reserved.
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