Equity is the value of your home minus what you owe on your mortgage. For example Bo Jackson Raiders Jersey , If Joe's home is worth $200,000 and Joe still owes $170,000, then Joe's Equity is $30 Hunter Renfrow Big Tall Jersey ,000.
All homeowners in Atlanta Georgia and surrounding counties should be aware of the Rule of 5020. For most mortgages, after making payments for 15 years on a 30 Year mortgage you will have only paid off around 20% of your principle. In other words, after paying for 50% of the term of your 30 Year mortgage, you will have only paid off 20% of what you owe on your home. That's the Rule of 5020.
In the early years your mortgage payments are front-loaded with HUGE interest payments. Only a small amount each month goes towards your principle. Therefore it takes a long time to build decent Equity in your home.
Most homeowners in the Greater Atlanta Georgia Metro Area only stay in a home for around 7 years Foster Moreau Big Tall Jersey , that's very little time to build Equity.
Remember, agentbroker commissions come out of your Equity. Using the above example, if Joe's Equity is $30,000 and he pays 7% commissions ($14 Isaiah Johnson Big Tall Jersey ,000) to an agentbroker, Joe will lose close to 50% of his Equity just to have someone sell his house for him.
If Joe sold his home on he saves this expense and protects his Equity.
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No Commissions - Just Results ? 3D Body Scanners are Changing the Norms in the Fashion Industry Posted by joseeliyo1232 on August 19th, 2017
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