Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
Page 3 · column 3 of 9 · from the scan, no model involved
What is equity? Quite simply, it’s the portion of your home you own • the part that isn’t mortgaged. To start with, it’s your down payment. Then it grows each month by the amount of principal you repay on your mortgage.
For example, let’s assume you’re in the first year of paying off a $25,000 mortgage you got at 9 per cent for 25 years. Your monthly payments for principal and interest are $210.00, of which about $24 is principal, the rest interest. At the end of the year you own about $280 more of your home than when you started * sort of a forced savings
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