Mon 4 Jan, 2010 08:37 pm
whats the meaning of 'accumulate equity ' in english ?
Equity is the value of your property beyond what you owe on it.
Say you bought a house for $200,000.
You've paid off $100,000.
The house is now worth $250,000.
You have $150,000 worth of equity.
To accumulate equity means you continue to pay down the loan while increasing/maintaining the value of your property.
Give the gal the Selected Answer Prize
Clear and concise! Good job boomerang
Thank you, thank you!
My house belongs in the "sweat equity" hall of fame so this is something I understand.
the topic title should be "what does this word mean
You are suggesting a house might increase in value?
Just a point: you can substitute the word 'property' for anything you own that might have value, ie. jewellery, cars, art, musical instruments...