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Summary: Ways to build equity include paying home loans on time every month and hoping the housing market value goes up. Increase property equity by sending extra money towards a mortgage payment with insight from a licensed mortgage broker in this free video on home loans and equity.
Adriel Torres has been in the mortgage business for over a decade. He has owned two mortgage companies and is a licensed mortgage broker. Torres has been doing credit repair since...read more
"Hi, so you're a homeowner, and you're wondering how to build equity in your property. No problem, I'll be able to tell you that. My name is Adriel Torres, and I'm the owner of Ultimate Credit Today.com. Now in order to build equity in your property, you have to have time and...or money, or both. Now, there are some ways to build property equity a little faster and a little traditional. Pay on time every month, and hopefully the market will go up and your property raises in value....rises in value. Now, if you have extra money, it's always wise to send an extra payment or whatever you have extra to the mortgage company, and you have to make sure you include a letter in there to let them know that that extra payment or extra money you're making is to be used for principle reduction. So what's going to happen is, that money you sent in extra is going to be taken off the top of what is owed and not applied towards a mortgage payment, which is going to have interest. So that's a very quick way to reduce your....your overall loan amount and build equity faster in your property. Again, my name is Adriel Torres and I'm the owner of Ulitmate Credit Today.com. Thank you very much."
eHow Article: How to Build Equity
Meet Mark P Cussen, CFP, CMFC eHow's Personal Finance Expert.