<prompt> Human: I am not planning on selling my house soon, but want to better understand how it works so I do know how it works when that day comes.If the value of the mortgage loan is, using an arbitrary number, 150k, and I have 50k in equity, and I sell the house for 150k. Negating the closing costslawyer fees, does that mean I get a check for 50k at closing? Or is it more complex than that?Additionally, what happens if I sell for less or more than the value of my loan? If I sell for 140k, does that mean I get a check for 40k, or is it based off percentages?  <response>: If the value of the mortgage loan is, using an arbitrary number, 150k, and I have 50k in equity, and I sell the house for 150k. Negating the closing costslawyer fees, does that mean I get a check for 50k at closing? Or is it more complex than that?Equity is not something that is a part of your mortgage. If the balance of your mortgage is 150k and you sell for 150k, then you get nothing. In order to have 50k in equity, you would need to have a mortgage balance of 150k and sell for 200k. I think this might have just been a typo in your question.Outside of this, if you sell for 200k and have a 150k mortgage balance, then it is pretty simple. Disregarding fees and closing costs, you pretty much will end-up with a check for 50k. 