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Home equity is a crucial concept for homeowners, offering a pathway to financial stability and opportunities for leveraging the value of your property. This guide will help you understand what home equity is, how it works, and how you can make the most of it. What is Home Equity? Home equity is the difference between the market value of your home and the outstanding balance on your mortgage. Essentially, it's the portion of your home that you truly own. For example, if your home is worth...
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As the fall season ushers in cooler temperatures and colorful foliage, it’s also the perfect time to think about how you can harvest the value of your home. If you’ve built up equity in your property, you have a valuable financial resource at your disposal. But how can you make the most of it? Let’s take a look! Understanding Home Equity Home equity is the difference between your home’s current market value and the remaining balance on your mortgage. Over time, as you...
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