ðə bˈɑːɹoʊɚz ˈɛkwᵻɾi ɪnðə pɹˈɑːpɚɾi ˈiːkwəlz ðə kˈɜːɹənt mˈɑːɹkɪt vˈæljuː ʌvðə pɹˈɑːpɚɾi mˈaɪnəs ðɪ ɐmˈaʊnt ˈoʊd ɐkˈoːɹdɪŋ tə ðɪ əbˌʌv fˈɔːɹmjʊlə.
The borrower's equity in the property equals the current market value of the property minus the amount owed according to the above formula.