> Since it's theoretical, it's very subjective. When you get a mortgage, it's based on a theoretical value of the property as determined by an assessment. Th

> Since it's theoretical, it's very subjective. When you get a mortgage, it's based on a theoretical value of the property as determined by an assessment. The bank will lend you up to, for example, 90% of the assessed value. Thats how you get a morthgage on a property that maybe you already own for 20 years.