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Definitions by HairyPsalm

Nequity 

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Negative Equity. This happens when your house value is less than the purchase price minus your down payment.
Joe put 20% down on a $500,000 house, the market crashed and the house is only worth $380,000. Joe now has $20,000 of Nequity.
Nequity by HairyPsalm March 27, 2008
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