If the amount you owe on your house is less than the price of the house,you have
A)positive equity in your house.
B)an adjustable-rate mortgage on your house.
C)negative equity in your house.
D)a reverse mortgage on your house.

Question

Quizplus · Accepted Answer

If the amount you owe on your house is less than the price of the house, this means you have equity in your house. Equity is the difference between the market value of the home and the outstanding mortgage balance. Positive equity means that the value of the home is greater than the amount owed on it, which is a good thing for a homeowner.

If the Amount You Owe on Your House Is Less