The Difference Between the Market Value of Your Home and the Balance

question 38

True/False

The difference between the market value of your home and the balance of the mortgage is your equity in the property.

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Definitions:

Slander

Slander is a type of defamation that involves making false, damaging oral statements about someone to a third party.

Defamation

A false statement presented as fact that causes injury or damage to the reputation of the person or entity it targets.

Punitive Damages

Monetary compensations awarded in lawsuits as a punishment to the defendant for egregious or malicious behavior, beyond simple compensation.

Compensatory Damages

Financial compensation awarded to a plaintiff to offset losses or suffering caused by the defendant's actions or negligence.