Equity is the value you own in a property such as a house. It’s the difference between what’s owed and what the property is worth in the current market. Let’s say you have a house worth $300,000 today and you owe the bank, $200,000 your equity would be $100,000. If the house is valued atContinue reading “What Is Equity”
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What Is Equity
“Equity” is the value you own in a property, such as a house. It’s the difference between what’s owed and what the property is worth in the current market. Read Also: Understanding Seller Disclosures Let’s say you have a house worth three hundred thousand dollars today and you owe the bank two hundred thousand dollars. YourContinue reading “What Is Equity”
What Is a Reverse Mortgage?
A reverse mortgage is a type of loan available to homeowners age 62 years are older. It’s called a reverse mortgage because the lender makes payments to the borrower with a reverse mortgage seniors can convert the equity in their homes into cash. The product was created to help people with limited income use theContinue reading “What Is a Reverse Mortgage?”
