Home equity is generally defined the current value of the home minus the amount of liens against it -- like mortgage balances. If your home is worth $250,000 and your mortgage payoff amount is $125,000, you would have approximately $125,000 in home equity.n addition, the interest you pay on a home equity line or loan may be tax deductible. Please consult a tax advisor to find out if this applies to your circumstances. Lower interest rates on home equity loans and lines of credit may make either option a good choice for consolidating consumer debt.
When plates slide past each other at a transform boundary what geological process is most likely to occur? An earthquake will most likely occur because the techtonic plates below the earth's surface are grinding past one another causing severe shaking.
Faultsâbreaks in Earthâs crust where rocks have slipped past each otherâform along these boundaries. There are three types of plate boundaries: transform boundaries, divergent boundaries, and convergent boundaries. The plates move at amazingly slow rates, from about 1 to 24 centimeters per year. They have been moving for tens of millions of years. A transform boundary is a place where two plates slip past each other, moving in opposite directions. Earthquakes occur frequently along these boundaries. The place where two plates move apart, or diverge, is called a divergent boundary. Most divergent boundaries occur at the mid-ocean ridge. When a divergent boundary develops on land, two slabs of Earthâs crust slide apart. A deep