Need for exit plan?
Article covers real life issues. Good article but not a happy subject. The asking price is less than what she owes on it. Her situation is not uncommon for seniors who buy RVs but find health issu...
Forum Discussion
OkSixpack wrote:Dutch_12078 wrote:OutdoorPhotographer wrote:
One huge inaccuracy. "Sometimes it takes 10-12 years to get equity." What he meant was 10-12 years to not be upside down.
Doesn't "equity" (in an accounting sense) mean the asset is worth more than is owed on it? In other words, not being upside down on the loan?
I always considered equity as how much something WENT UP in value while owning it, not just being worth more than what is owed on it.
Jim
"Equity - 3 b : the money value of a property or of an interest in a property in excess of claims or liens against it"
Merriam-Webster.com
