Simply subtract your mortgage from your home's fair market value. A $300,000 home with a $150,000 mortgage has a $150,000 equity. If your state homestead law shelters $20,000, you have a $130,000 equity vulnerable to a lawsuit.
Simply subtract your mortgage from your home's fair market value. A $300,000 home with a $150,000 mortgage has a $150,000 equity. If your state homestead law shelters $20,000, you have a $130,000 equity vulnerable to a lawsuit.