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Definitions from the Web

Home-Equity

Definition:

Home-equity refers to the current market value of a homeowner's unencumbered interest in their residential property.

Usage:

Sense 1: Property Ownership

- As a noun, home-equity represents the monetary value of a homeowner's stake in their property, calculated by deducting any outstanding mortgage or liens from the market value of the home. For example: John's home-equity allowed him to secure a loan for home renovations.

Sense 2: Financial Asset

- Home-equity can also be used as a noun to denote the equity in a home as a financial asset that can be used as collateral to obtain loans or lines of credit. For example: Mary decided to tap into her home-equity to pay for her daughter's college tuition.

Sense 3: Home-Equity Loan or Line of Credit

- As a compound noun, home-equity can refer to a specific financial product like a home-equity loan or line of credit. For example: The bank offered Tom a competitive rate on his home-equity loan.

Sense 4: Home-Equity as a Homeowner's Investment

- Home-equity can also be used as an adjective to describe the nature of an investment made in a homeowner's own property. For example: Investing in home improvements can be a smart way to increase home-equity.

Examples:

- After paying off her mortgage, Sarah's home-equity rose significantly, providing her with a sense of financial security.

- With the help of a home-equity loan, Robert was able to remodel his kitchen and increase the value of his property.

- Jane always considered her home-equity as a safety net in case of unexpected expenses.

Related Products:

Interested in learning more about home-equity related topics or exploring suitable financial products? Check out these products on Amazon for more information:

• Home-Equity Loans
• Home-Equity Lines of Credit
• Home Remodeling Books