Understanding Your Home's Value
Before you bought your home, homeownership sounded appealing for many reasons, including the ability to build equity over time. Find out what equity means and how it can play a big role in your financial future.
Nestled within the Truth in Lending document your lender provided is your amortization schedule. This is a very important table that outlines every monthly payment you’ll make and its contribution toward equity. Equally important, it will show the real cost of the home at the end of your loan term.
If you owe more on your mortgage than your home is worth, there are options – whether you're looking to stay in your home and refinance or leave your home.