Jul

22

Is a silent 2nd mortgage included when determining the equity in a home?

Filed Under mortgage 

Arturo Amante asked:


I bought my home with a silent 2nd mortgage and I need to know how much equity I have in my home. Should I determine the equity with the 2nd mortgage added to the price?

Mathew
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Comments

2 Responses to “Is a silent 2nd mortgage included when determining the equity in a home?”

  1. a2z_4me on July 25th, 2008 7:30 pm

    The extent of contract you have leagal claim too it is the extent of your starting fresh from the extent of contract you have paid off that is paid off that is the amount you have paid off that you have paid off that is paid off that is.
    The point of your equity is the amount you have leagal claim too it does.

  2. John on July 26th, 2008 6:01 am

    The value of house minus all mortgages and liens.