Foreclosure data site RealtyTrac has launched a tool that estimates the negative equity of a home in the foreclosure process, the site announced Tuesday.
The site's new feature estimates a home's equity by comparing the amounts of outstanding loans on the home and the home's estimated market value. Users can also search for homes with equity in a certain range -- positive equity of $10,000 to $50,000, for example. Search options also allow users to choose a date range for homes that are coming up for auction.
A "loans and history" tab on a property's details page shows the numbers behind the net equity calculation, a home's loan-to-value ratio, a list of outstanding loans on the property and the position of those loans.
While equity and loan-to-va