Homeowners should verify their home's equity at least once a year because the two factors that affect it change regularly.  Market value changes and the unpaid balance of the home decreases with each monthly payment made on an amortizing loan.   Amortization and appreciation cause the equity to increase in value.  Knowing your equity gives you options with regards to refinancing the home and releasing part of that equity. The equity in your home can offer a financial safety net providing funds for emergencies or major life events, leveraged for investments or home improvements.  An annual update on your home's equity will ensure you stay informed about your financial position and oppo…