Probably a good sign for my financial future that I have essentially no idea what "equity" is
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But of course also extending the terms of the loan. Generally the smart time to do this is when interest rates are very low, especially if you have a fixed rate mortgage, where you can 'lock in' the low rates.
And now for the Devereaux Family Motto: You should of course always consult a financial professional before making any decisions.
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Okay so I just saw a suggestion that property taxes be made payable out of homeowner equity (as a remedy for the displacement of people whose house values have risen until they can't afford the taxes). What would be the mechanism for this? How would you "spend" equity this way?
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I think that would mean that the taxes would be paid in the form of a loan against the house? So, the advantage here is that if you, say, get gentrified out and your taxes spike because house value spiked, then you have big equity because it's value-loan and value just went
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