2007-03-19 14:11:53 · 7 answers · asked by Soila Leon 1 in Business & Finance ➔ Renting & Real Estate
ok, I'm sorry. I don't really understand this stuff. Someone on another forum was complaining about money problems saying their home had too much equity in it...?? bzuh?
2007-03-19 14:36:08 · update #1
No such thing.
2007-03-19 14:16:20 · answer #1 · answered by Jo Blo 6 · 0⤊ 0⤋
The comment makes no sense out of context. Who made such a comment and in what context.
Equity is equity.
The one time I have heard the phrase used is when someone was hoping for a short sale and the lender said there was too much equity. They were going to foreclose rather than cut a deal as the equity was there for them to recover 100%. In this case the borrower/owner just needs to get the place sold to avoid foreclosure.
2007-03-19 14:46:46 · answer #2 · answered by Anonymous · 0⤊ 0⤋
There can be too much equity if the owner is trying to qualify for a loan or grant etc. To get assistance based on a hardship they would have to prove that they in fact did have a hardship and couldn't simply tap into their own equity or other assets.
This happens with student loans, scholarships etc...
2007-03-19 15:48:59 · answer #3 · answered by Tadow 4 · 0⤊ 0⤋
You can never have too much equity.
Ask again with more information, this one is not possible.
2007-03-19 14:24:26 · answer #4 · answered by Anonymous · 0⤊ 0⤋
That's meaningless. Your home can't have too much equity. That's like saying you have too much money.
2007-03-19 14:20:24 · answer #5 · answered by Box815 3 · 0⤊ 0⤋
i've never heard that one. lets say i get aloan from the bank for a 100,000 dollar home and live there and pay 1000.00 per month on my loan for 10 months i then have 10,000 in equity!
2007-03-19 14:22:45 · answer #6 · answered by Anonymous · 0⤊ 0⤋
IT mean some one does not know what the heck there talking about.
OR it can be called paid off.
2007-03-19 14:18:53 · answer #7 · answered by Anonymous · 0⤊ 0⤋