Q:

What is the difference between debt and equity

Answer

Debt is what you owe. And equity is the difference between how much the home is worth and how much you owe on the mortgage.

Categorized In: Finance & Economy

Source: Home Equity Basics, Ch. 1: What equity debt is (Page 1 of 2) | www.bankrate.com

Description: Equity is the difference between how much the home is worth and how much you owe on the mortgage

Oct 22, 10:45am

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More ChaCha Answers (1)

Debt is what you owe. And equity is the difference between how much the home is worth and how much you owe on the mortgage.