How Is My Half of the House Valued With a Mortgage? | NC

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Q: How do we figure out what my half of the house is worth when there is still a mortgage on it? A: Usually, you start with the home’s fair market value — what it would likely sell for now. Then you subtract the mortgage payoff and normal sale costs to find the net equity. If you each own one-half, your starting share is one-half of that net equity, not one-half of the full house price. The…