Simple Calculation of No Home Equity – Married - Keep home OR surrender

• Market Analysis Sale Price…….$100,000

• Less: 8% – costs of sale (8,000)

• Less: exemptions (20,000)

• Available 72,000

• Less: 1st Mortgage (70,000)

• Less: Home Equity Loan (10,000)

• Non Exempt Equity: (8,000)

• No excess equity. Keep home and make first & second mortgage payments.