Home & Family: Housing
What is home equity and how can I increase the equity in my home?
Home equity is the
difference between the current value of the house and the amount of money
owed on the mortgage. The down payment that you make when purchasing a
home will provide you with some initial equity. Home equity may also increase:
when you make improvements in the property; during inflationary periods;
when the supply of housing is not sufficient to meet the demand; when
you repay your mortgage.
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Last Modified: Wednesday, 05-Mar-03 15:54:44
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