Mortgage Loan > Equity or homeowners equity

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Mortgage Loan
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Equity or homeowner's equity

The concept of equity in a property refers to the value of the property minus the outstanding debt, subject to the definition of the value of the property. Therefore, a borrower who owns a property whose estimated value is $400,000 but with outstanding mortgage loans of $300,000 is said to have homeowner's equity of $100,000.

Last Updated: 29.06.2008

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article Mortgage Loan.

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