What Is Home Equity

by Homeowner

Ask Kate: What Is Home Equity? Can I use it to consolidate debts?
Dear Kate, Can you tell me how to calculate the value of my property? I want to know how much equity I have in my house. In the past, I got letters telling me how much. I need to borrow money to pay medical bills. Thanks, Homeowner



Kate Answers: What Is Home Equity? Can I use it to consolidate debts?

Dear Homeowner, Home equity is the difference between the value of a house and the amount owed. So if your home is worth $200,000 and you owe $150,000, you have $50,000 of equity. One good way to find out how much your home is worth is to call your original real estate agent or one who currently specializes in your neighborhood.

Tip: When a real estate agent helps out a homeowner like this, they don't receive a paycheck. Pay it forward by referring someone you know to the Realtor who wants to buy or sell a house.

Once you get an estimate from an agent, call your lender to ask about a home equity loan.

If you don't have enough equity to borrow against your home, you can also consolidate debts with a personal loan. A reputable debt consolidation company, like CareOne Services, can help you examine potential solutions to getting out of debt.

CareOne Services is a nationally recognized debt relief service. To understand how CareOne Services can help you, Click Here for quick answers.

Get Online Debt Relief Now

Take a moment to bookmark What Is Home Equity? Can I use it to consolidate debts? to your favorites so you can easily return in the future.

Please come back and visit often. Help me spread the word by sharing my website with your friends. Remember, all of my information is free!

Best Wishes,

Ask Kate



Kate Ford Your MortgageBuddy on Twitter


You just discovered a collection of articles By Ask Kate about refinancing

Low Mortgage Payments | Secret Refinance Formula | Fresh Refinance Approach | Refinancing Breakthrough |Questions To Ask | Mortgage Planner | Compare Rates

Is your mortgage refi worth the cost? Here's how to figure a break even point.

Join in and ask your own question! It's easy to do. How? Simply click here to return to Ask Kate For Refinancing Advice

Return from What Is Home Equity to Get-Your-Best-Mortgage-Rate home page

The information you obtain at this site is not, nor is it intended to be, a substitute for financial, real estate or legal advice. You should consult an attorney, accountant, lender or real estate agent, as applicable, for advice regarding your individual situation. Comments and opinions found here are not necessarily those of Get-Your-Best-Mortgage-Rate.com

Click here to post comments.

Join in and write your own page! It's easy to do. How?
Simply click here to return to Refinancing Advice The Nuts and Bolts.

Grin and Bear It!

We're getting a facelift! Please bear with me! The content is identical so continue to browse. I'm working as fast as I can to finish up!

Your friend,
Kate Ford

You Can Own My Brain

Lock Answers by Kate - Learn the nitty gritty inside story of locking your mortgage rate.

Refinance Answers by Kate - Refinancing brings out opinions, for sure! Get the facts here.

Answers by Kate For Seniors - Reverse Mortgage, the unique income answer for retirees.

Home Buying Answers by Kate - Learn how to buy a house. Unusual facts to aid your home buying experience.

Credit Answers by Kate - Improving credit could change your life. Find how to get more than temporary results.

FHA and VA Answers by Kate - Clear the fog. The low down on VA and FHA loan requirements.

PMI Answers by Kate - Private mortgage insurance, friend or foe? Do you know how to get rid of it?

ARM Answers by Kate - Do you have an adjustable rate home mortgage? You can ask Kate for help.

Loan Modification Answers by Kate - Unique help for modifying your mortgage. Make sure you don't miss this.

Website Answers by Kate - Yes... Readers even ask Kate how to build a website.