Comment on How to Learn If You Have Enough Equity to Refinance

If you’ve been underwater on your mortgage — owing more than the market value of your house — or live in an area where home values are struggling to recover after the recession, it can be hard to know whether you’ve regained enough equity to make a mortgage refinance work in your favor. “Equity” is just a fancy term to describe the difference between your home’s fair market value and the outstanding balance of your mortgage.