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https://math.answers.com/other-math/How_can_one_house_have_2_mortgages_with_one_owner

How can one house have 2 mortgages with one owner? - Answers

It's like if you needed $5000 to buy a car, and you borrowed $3000 from your father and $2000 from your uncle. The difference between what your home is worth and the total principle you still owe is called equity. As you continue to make payments, and the value of your house appreciates, your equity grows. That equity can be used as collateral; you can borrow against it.



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How can one house have 2 mortgages with one owner? - Answers

https://math.answers.com/other-math/How_can_one_house_have_2_mortgages_with_one_owner

It's like if you needed $5000 to buy a car, and you borrowed $3000 from your father and $2000 from your uncle. The difference between what your home is worth and the total principle you still owe is called equity. As you continue to make payments, and the value of your house appreciates, your equity grows. That equity can be used as collateral; you can borrow against it.



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https://math.answers.com/other-math/How_can_one_house_have_2_mortgages_with_one_owner

How can one house have 2 mortgages with one owner? - Answers

It's like if you needed $5000 to buy a car, and you borrowed $3000 from your father and $2000 from your uncle. The difference between what your home is worth and the total principle you still owe is called equity. As you continue to make payments, and the value of your house appreciates, your equity grows. That equity can be used as collateral; you can borrow against it.

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      It's like if you needed $5000 to buy a car, and you borrowed $3000 from your father and $2000 from your uncle. The difference between what your home is worth and the total principle you still owe is called equity. As you continue to make payments, and the value of your house appreciates, your equity grows. That equity can be used as collateral; you can borrow against it.

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