Quote:
Originally Posted by bimmerfrk
Its not a home equity line. Thats how much my house is valued vs waht i own on the note. So if i sell i stand to make around 200k profit based on median comps. note is 750k house value is 1mil.
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Until the house sells, the equity/value is just speculated. While I do understand why one would account projected equity in their house into their overall net worth, I tend to not look at this. The only thing I look at with equity is that I'm not in the negative or there's not enough projected equity where the note on the house wouldn't be covered by the sale.