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“`html Understanding Home Equity Equity is the difference between your home’s current market value and the amount you owe on your mortgage. It can be a valuable asset to access cash when needed. With home values soaring in recent years,…
“`html What Happens to Your Home Equity in Foreclosure? During foreclosure, your home is sold to pay off your outstanding mortgage balance. If the sale nets more than your outstanding mortgage balance, your lender can’t keep the excess funds. In…
“`html Understanding Loan-to-Value Ratio (LTV) Loan-to-Value (LTV) ratio is a crucial metric that lenders use to assess the risk associated with a secured loan. It represents the percentage of the asset’s value, such as a house or car, that the…
