Discover the net worth in your home
When you think of your wealth, what assets do you add up? Most people think about their savings, their 401k, and their other investments. Those are all accounts that you can easily see how much money you have in there at any given time. But if you are a homeowner, there’s another more secret source of wealth. And, it’s usually unknown to homeowners, even though it makes up over half of their overall wealth (US Census report, 2017)!
This secret source of homeowner wealth is called home equity, which is a fancy term for how much money in your home is yours, that you don’t owe to the bank. This wealth is unknown to homeowners because as you pay your mortgage and as your home value rises and falls, this value changes. Because it changes over time, it’s hard for homeowners to calculate. Until now.
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