Equity …. Positive Equity, Negative Equity – What is it?!?!
FAQ time! When you have a mortgage, or are looking to take one out, the concept of EQUITY is very important – and yet so many people do not understand what it means.
Check out our quick explainer here:
Equity is a calculation used when you want to borrow money, but also, if you have an asset and are unable to pay debts, then your Creditors may use the equity calculation to decide whether or not they wish to pursue legal action.
If you, or anyone you know, needs debt advice, contact our team at Life After Debt to discuss your circumstances.
Do I have any equity in my house?