# {$}{$}{$}{$} your home is your castle {$}{$}{$}{$}

**URL:** <https://www.ruby-forum.com/t/your-home-is-your-castle/104689>\
**Category:** Rails\
**Created:** [May 21, 2007, 4:07pm UTC](https://www.ruby-forum.com/t/your-home-is-your-castle/104689 "2007-05-21T16:07:09Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![Best\_Money\_Way](https://www.ruby-forum.com/letter_avatar_proxy/v4/letter/b/958977/32.png) [@Best\_Money\_Way](https://www.ruby-forum.com/u/Best_Money_Way)\
**Post date:** [May 21, 2007, 4:07pm UTC](https://www.ruby-forum.com/t/your-home-is-your-castle/104689/1 "2007-05-21T16:07:09Z")

</div>

Your home is your castle – and sometimes it’s also your bank. The  
equity in your home – the current appraised value minus the amount owed  
on the house – can be tapped through loans at lower interest rates than  
credit cards. This chapter defines the types of home equity debt and the  
pitfalls of each.

Equity is the difference between how much the home is worth and how much  
you owe on the mortgage (or mortgages, if you have more than one on the  
property).

[http://shmyl.com/yiaoson](http://shmyl.com/yiaoson)

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