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Reply to "Husband is dying - no life insurance or savings, I’m a SAHM"
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[quote=Anonymous][quote=Anonymous]I’m sorry you are going through this but I don’t understand how you have 600k in equity in the house but owe $720k on the house?[/quote] DP, but I have a house worth about $1.3 so similar to OP. We have about $600k left on mortgage and $700k equity. My understanding is you don’t take the equity minus the amount owed (i.e. I wouldn’t say I only have $100k in equity) because the house has $1.3 in value. So in theory I should be able to sell the house for $1.3 and walk away with $700k and the mortgage cleared.[/quote]
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