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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] The property value of your house is $12. $12-5=$7 (equity) Your NW= savings + equity - loans or $15 Or you can calculate your NW as savings + property value - loan- mortgage balance. $10 + $12 - $2 -$5 = $15[/quote]
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