1 definition by N. Hock Forever
The area in square inches of your property that you own after you have paid your monthly mortgage payment. This is usually calculated by engineers and accountants. It slowly creeps along at an agonizing pace.
The principal on my mortgage is $123.45 this month and the remaining mortgage balance is $98,239.12. My house is 2000 square feet (288000 square inches).
My inchage this month is 123.45/98239.12*2000*144 = 361.91 square inches. This is equivalent to a tile 19 in x 19 in located somewhere in the bathroom behind the commode.
My inchage this month is 123.45/98239.12*2000*144 = 361.91 square inches. This is equivalent to a tile 19 in x 19 in located somewhere in the bathroom behind the commode.
by N. Hock Forever March 29, 2011