{"id":2218,"date":"2019-10-17T23:31:43","date_gmt":"2019-10-17T23:31:43","guid":{"rendered":"http:\/\/fastforwardstory.com\/?p=2218"},"modified":"2019-11-01T22:13:46","modified_gmt":"2019-11-01T22:13:46","slug":"what-is-equity","status":"publish","type":"post","link":"https:\/\/localwebdesigncompany.com\/closingexpress\/what-is-equity\/","title":{"rendered":"What Is Equity?"},"content":{"rendered":"<p><script src=\"https:\/\/fast.wistia.com\/assets\/external\/E-v1.js\" async><\/script><\/p>\n<div class=\"wistia_responsive_padding\" style=\"padding:56.25% 0 0 0;position:relative;\">\n<div class=\"wistia_responsive_wrapper\" style=\"height:100%;left:0;position:absolute;top:0;width:100%;\">\n<div class=\"wistia_embed wistia_async_n9i6c3kk3t dnt=1 videoFoam=true\" style=\"height:100%;position:relative;width:100%\">\n<div class=\"wistia_swatch\" style=\"height:100%;left:0;opacity:0;overflow:hidden;position:absolute;top:0;transition:opacity 200ms;width:100%;\"><img src=\"https:\/\/fast.wistia.com\/embed\/medias\/n9i6c3kk3t\/swatch\" style=\"filter:blur(5px);height:100%;object-fit:contain;width:100%;\" alt=\"\" aria-hidden=\"true\" onload=\"this.parentNode.style.opacity=1;\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Equity is the value YOU own in property such as a house. It\u2019s the difference between what\u2019s OWED and what the property is WORTH in the current market.<\/p>\n<p>The example this video shows &#8211; you have a house worth $300,000 today and you owe the bank $200,000. \u00a0Your equity would be $100,000.<\/p>\n<p>If the house is valued at $500,000 in five years, and you still owe $150,000 your equity will be $350,000.<\/p>\n<p>Equity grows if the property value goes up or if the amount owed goes down. \u00a0The key thing to remember, simple as it sounds, is that you &#8220;own&#8221; increases in value. The bank&#8217;s loan doesn&#8217;t go up if the home&#8217;s value goes up.<\/p>\n<p>Equity in a home can be used as collateral for loans but a house is not a piggy bank. Home equity can become a key financial asset over time; treat it wisely.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Equity is the value YOU own in property such as a house. It\u2019s the difference between what\u2019s OWED and what the property is WORTH in the current market. The example this video shows &#8211; you have a house worth $300,000 today and you owe the bank $200,000. \u00a0Your equity would be $100,000. If the house&hellip;<\/p>\n","protected":false},"author":53,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"http:\/\/videotap.wistia.com\/medias\/n9i6c3kk3t?embedType=async&videoFoam=true&videoWidth=640\r\n\r\nEquity is the value YOU own in property such as a house. It\u2019s the difference between what\u2019s OWED and what the property is WORTH in the current market.\r\n\r\nThe example this video shows - you have a house worth $300,000 today and you owe the bank $200,000. \u00a0Your equity would be $100,000.\r\n\r\nIf the house is valued at $500,000 in five years, and you still owe $150,000 your equity will be $350,000.\r\n\r\nEquity grows if the property value goes up or if the amount owed goes down. \u00a0The key thing to remember, simple as it sounds, is that you \"own\" increases in value. The bank's loan doesn't go up if the home's value goes up.\r\n\r\nEquity in a home can be used as collateral for loans but a house is not a piggy bank. Home equity can become a key financial asset over time; treat it wisely.","_et_gb_content_width":""},"categories":[23],"tags":[38,18],"_links":{"self":[{"href":"https:\/\/localwebdesigncompany.com\/closingexpress\/wp-json\/wp\/v2\/posts\/2218"}],"collection":[{"href":"https:\/\/localwebdesigncompany.com\/closingexpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/localwebdesigncompany.com\/closingexpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/localwebdesigncompany.com\/closingexpress\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/localwebdesigncompany.com\/closingexpress\/wp-json\/wp\/v2\/comments?post=2218"}],"version-history":[{"count":5,"href":"https:\/\/localwebdesigncompany.com\/closingexpress\/wp-json\/wp\/v2\/posts\/2218\/revisions"}],"predecessor-version":[{"id":7117,"href":"https:\/\/localwebdesigncompany.com\/closingexpress\/wp-json\/wp\/v2\/posts\/2218\/revisions\/7117"}],"wp:attachment":[{"href":"https:\/\/localwebdesigncompany.com\/closingexpress\/wp-json\/wp\/v2\/media?parent=2218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/localwebdesigncompany.com\/closingexpress\/wp-json\/wp\/v2\/categories?post=2218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/localwebdesigncompany.com\/closingexpress\/wp-json\/wp\/v2\/tags?post=2218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}