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Do you consider your mortgage to be a debt or only include your equity in the house as an asset?

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by (1.1k points)
Do you consider your mortgage to be a debt or only include your equity in the house as an asset? Calculating my net worth.  
Do you consider your mortgage to be a debt or only include your equity in the house as an asset?

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+2 votes
by (2.1k points)
 
Best answer
When calculating net worth, yes. When you consider the value of your home, calculate the mortgage in your liabilities and the equity will help offset the liability.  
+2 votes
by (4.3k points)
When calculating net worth you would add in the total value and subtract the debt. Net worth is total value of all assets minus liabilities.  
by (1.1k points)
@mallard thanks. I have just heard some financial people say they don't consider a mortgage an actual debt (I guess because you can sell it? ) so it confuses me.  
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