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November 16, 2006
What Is A Home Equity Line Of
Home equity is defined as the amount of money a homeowner has already paid against the value of a home. It is calculated by subtracting the amount of the mortgage balance from the current fair market value of the property. This means that the equity increases as the mortgage balance against a property decreases. Any amount by way of liens or second mortgages owed by homeowners must be subtracted from the appraised value to determine home equity
From What Is A Home Equity Line Of
Posted by Gary at November 16, 2006 09:42 AM
