Question home equity?

[amytromp]

If you owe more on your house then its worth do you have any equity?

[DYLAN150]

No. On my house, I have about 20 or 25k in equity but If I went to sell it real estate fee's and closing costs would eat most of that up. But If asked the question do I have equity in my house the answer would be Yes.

[SunshineGal]

Hi amytromp,

Equity is the value of the home less any liens. Since you owe more than the value, you do not have any equity.

SG