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    Gyang's Avatar
    Gyang Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Aug 17, 2008, 07:19 PM
    Equity Line
    Any idea when equity and the mortgage industry will go back up? I just bought a home, when will equity go up?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Aug 17, 2008, 07:41 PM
    Don't expect a lot for the next few years, I would look longer term of 5 to 8 years most likely. This is just a guess for them to go up to levels they used to be at.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #3

    Aug 17, 2008, 07:48 PM
    Your equity in your home comprises two factors, the value of your home less the principal balance of your mortgage. As you pay down the mortgage and, as the value of the home increases the equity increases. If you put a good sized down payment on the home, you start with that as equity.

    In a declining real estate market the loss of market value may offset or more the pay down of the mortgage.
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