The equity that a homeowner has in a house is the amount of money that could be made by selling the house and paying off the mortgage.This idea is like the idea of owners' equity in a business.

Question

Quizplus · Accepted Answer

Homeowner's equity is similar to owner's equity in a business as both represent the residual interest or value after liabilities (mortgage or debts) are paid off.

The Equity That a Homeowner Has in a House Is