It's like if you needed $5000 to buy a car, and you borrowed $3000 from your father and $2000 from your uncle.
The difference between what your home is worth and the total principle you still owe is called equity. As you continue to make payments, and the value of your house appreciates, your equity grows. That equity can be used as collateral; you can borrow against it.
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yes you can. theres one on my dads house
Let's say that you have houses 1, 2, and 3, we also have Main Street, and 1st street. House 1 and 2 both lie on Main Street, but house 3 does not. House 2 and 3 both lie on 1st street, but house 1 does not. This is an example of non-collinear points because house 1, and 2 can be on the same street, House 2 and 3 can be on the same street, but not all three houses, or points, can be on the same street, or line.
2 Hours & 24 minutes
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1+1=2