Your Equity And Foreclosure

Your Equity And Foreclosure

If you are facing Foreclosure and have equity in your home, that equity is yours. Even if you are facing foreclosure.

However... The equity you have can be reduced even before the foreclosure starts. Things that may reduce your equity are fees and penalties. Fees and penalties can include: Missed payments, payment processing fees, foreclosure proceeding costs, and selling costs. This is not an all inclusive list.

• What Is Equity?
  

• The difference between your home's current market value and the remaining balance you owe on it; is Equity.

• Example: $150,000 (Market Value) - $125,000 (Remaining Loan Balance) = $25,000 (Equity)

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Check out this video explainer from Lance Moher of Moher Realty Group (Florida)

DISCLAIMER: This article is not intended to provide legal advice. I am not a licensed Real Estate Attorney. If you or someone you know is facing Foreclosure and have questions; It is advised that you consult with a Licensed attorney who specializes in Foreclosure. 

Avoid Foreclosure - HUD.GOV

Ashley Batiste, Agent-Owner/ Realtor | EXP Realty, LLC | PH: 251-3085445 | EM: [email protected]

Considering Selling Your Home? Call --> 251-308-5445!

Author: Ashley Batiste
Phone: 251-308-5445
Dated: January 24th 2018
Views: 99
About Ashley: Mobile, Alabama native. Worked as a civilian contractor with the Army Recruiting command in Mobile, ...