July 27, 2007, Newsletter Issue #140: How Much Equity Do I Have?

Tip of the Week

The equity in your home is the difference between the value of your home and the amount you owe (your mortgage and any home equity loans). Most lenders will loan you up to a certain percentage of the value of your home. For example, many lenders will loan up to 90% of the home's value. Some lenders will loan even more than the home is worth, say, 105% or 110%. Beware of these loans, especially in an uncertain real estate market. If you take one and cannot make the payments, and the bank forecloses, you'll owe more money even after than bank sells your house.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.

Not finding the advice and tips you need on this Real Estate Tip Site? Request a Tip Now!

Guru Spotlight
Patricia Walters-Fischer