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Not so much imaginary as ill-defined

Submitted by mbhunter on March 13, 2008 - 23:12.

Equity is always there but it only gets a hard value when a contract is inked. It also plays a part in whether banks extend you a line of credit, or whether they rescind it, like what has happened recently.

I don't include my home's equity in my net worth calculations, just the mortgage debt.

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