What does HOME EQUITY mean?

MoreMerchant.com reader’s question:
What does the term HOME EQUITY really mean?

Reader’s Answer:
What you have said has nothing to do with true home equity.

Home Equity is what your house is worth minus what you owe on it. Say you buy the house and in five years it is worth $150,000, but you only owe $100,000. You have $50,000 worth of equity in the house.

At Home: A Short History of Private Life With his signature wit, charm, and seemingly limitless knowledge, Bill Bryson takes us on a room-by-room tour through his own house, using each room as a jumping off point into the vast history of the domestic artifacts we take for… Price: 15.95

The Millionaire Real Estate Agent: It’s Not About the Money…It’s About Being the Best You Can Be! Take your real estate career to the highest level! “Whether you are just getting started or a veteran in the business, The Millionaire Real Estate Agent is the step-by-step handbook for seeking excellence in your profession and in your… Price: 21.95