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Reply to "Why subtract mortgage balance from your net worth?"
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[quote=Anonymous][quote=Anonymous]Let’s get to the bottom of this, what is my net worth: Savings:$10 Equity:$7 Remaining mortgage balance:$5 Student loans: $2 No other debt. Is my net worth $15 or is it $10[/quote] Assuming "Equity" is the amount of cash you would have after selling your home, and paying off your remaining mortgage balance, $15. If "Equity" is how much you think your home would sell for (net of broker/transaction fees/taxes), then $10.[/quote]
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