 What would you do if someone wants to look at your house for sale, but you are listed with a Realtor? |
| I had a person come to our door the other day, wanting to just look at our house. I told him that he must see our Realtor and make an appointment to see it. He insisted that he didn't have ... |
|
 What exactly is the purpose of building equity in your home? |
i.e - staying in a house for a longer period (10+ years) vs a shorter time (2-5 years) ???
what does equity do for you? why do people say its good to build up your equity?... |
|
 Do I allow my home to go into foreclosure or sell it and rent it back? |
| My husband and I bought our home 3 years ago. We were healthy and working, just moved back from a different state to be with our new grandbabies. We took out an ARM loan on the property because it ... |
|
 Can my fiance sell our house without my consent if my name in on the deed but not on the mortgage? |
| My fiance is cheating & he & I are splitting and he told me I have to get out with my kids. My name is on the deed but it is not on the mortgage. Can he sell the house without my consent?... |
|
 In real estate does Staging a house really hellp it sell? |
I have heard of staging homes for sale and was thinking of getting into the business. But does it really work?
Additional Details
Is there a way to get into the Staging business ... |
|
 Can anyone help me out with 700 quid to pay my rent? I have a little boy and broke my arm!!? |
| I broke my arm last xmas and haven't worked for 6 months,the housing are threatening to kick us out... HELP!!!!!!... |
|
 1st day in a new apartment.. Next door neighbor complained.? |
Today was Day 1 at my new apartment. I decided to bring blankets and sleep there for the first night.
I got there around 11pm, put my blankets on the floor and lied down.
At 12am my ... |
|
 About to buy a home! But a few ODD questions.? |
First off let me show you the home.
http://www.realtor.ca/pr
It is a small 2 bedroom home, On a nice quiet street- I have been communicating with Edward ... |
|
 Ok my brother wants to buy a foreclosure house but get this hes 16years old? |
any i was wonder if its even possible for him to buy a foreclosure house it kinda peaked my curiosity
Additional Details
and i heard that its possible if he has like our parents to co ... |
|
 Bottom Line: Do Real Estate Agents Deserve 6-7% of a person's net worth? |
In short, for working 12-40 hours, do they deserve the equivalent take-home pay of almost a year of labor??? (assuming most people have a 30 year mortgage and pay about half to it each month...)
... |
|
 My rent is due the first day of the month..? |
| and the first day of this month was a saturday and the office was closed. I could not get to their drop box to drop it off either. I don't think I can get it to them til tuesday the 4th since ... |
|
| Is 5% too high to pay a real estate agent? |
| I live in Pleasanton CA, and have recently been informed by a friend that my agent is robbing us, by charging 5%. Is this true? What is a good percentage? And does anyone have any tips on ... |
|
 Based on our income what would be an affordable home price? |
| My fiance makes about 95,000 a year and i make about 85,000 a year. what is an affordable home price? we are both 27 years old and still have time for raises and advancements in our careers. We live ... |
|
 As a tenant, what can I tell prospective buyers? |
I have a question for those 'in the know' here.
Our landlords have been pretty deceitful about the house. They lured me in with promises to update and fix things but never did ... |
|
 Is there anything i can do about my neighbors guitar noise in my apartment?complex? |
| theres not a certain time of the day or an exact day of the week that he does it, but it's annoying as hell. the floor shakes and you you feel the vibrations when you're trying to watch a ... |
|
|  |
Banwa | Can your house be repossessed if the equity is much greater than the outstanding mortgage? |
What would happen to the equity?
Additional Details
Let me explain more. I have never defaulted on my mortgage payment. I am hoping that my Dad would invest a little (half the value of one of his houses) in order for me to start up a business.
It isn't MUCH of a risk, because the business is a dead cert, but what I really wanted to know was, would he be risking the WHOLE house for the value of only half of it? |
 |
 
J. P.
 |
The mortgage company can foreclose on it if you don't make your payments regardless of equity. |
|
Vitamin D
 |
Your house may be foreclosed on until the mortgage terms have been satisfied. When a house goes to foreclosure sale the proceeds of the sale go towards the total debt owed by the (former) homeowner. Any $$ left over after the total debt has been satisfied goes to the former homeowner less any other liens or title positions on the property. |
|
goatboy
|
This happened to an uncle of mine fairly recently. Tha bank foreclosed because he had a overdraft scured on a house worth £300, 000. The overdraft was in a joint account with my aunt and the reason for foreclosure was that she filed for divorce and wanted to dissolve the joint account. The bank swooped in almost immediately to snaffle the house.
Banks dont care about equity, they just want their money and will sell the house for the amount owed. Ridiculous I know, but apparently true. |
|
moeman63
|
yes |
|
curiousRO
|
Yes, It can be repossessed. The bank would then sell the house (probably for much less than what it is worth) and pay off the mortgage. You would get anything that remains minus some pretty substantial penalties and fees. |
|
Leo
 |
Yes, if you stop paying the mortgage, your house could be foreclosed upon. Equity is not real, it is dependent on resale of the house.
Once the mortgage company sold the house, whatever profit the equity was would be applied to the remaining balance, late fees, and legal fees of the foreclosure proceedings.
As to what would happen to any leftover money, I don't know...but it would, I feel, have to be refunded to the original buyer. |
|
tsmitha1
|
Yes, might get repossessed quicker since the mortgage holder wouldn't have to worry about losing money on it.
If it brought more in sale than you owed, you would receive the excess. But, with foreclosures and quick sales, don't be so sure it would, regardless of the equity. |
|
lsenn
 |
Yes, but lenders will usually work with you if you are having trouble making your payments. They'd rather have a few late payments rather than the house back. It is important to contact your lender and let him/her know your situation. That way they can work with you. If they don't hear from you, they look at you as a deadbeat. |
|
IntellectLadi
|
Yes because you are defaulting on the loan contract, the equity would go to the bank. |
|
hotlittlenumber55
|
I would agree with the other answerer's suggestion to try and work out something with the mortgage holder. Mortgage holders will definitely foreclose on your home if you don't make any attempt to work out an agreement, but are almost always willing to work something out, because it usually costs them at least $20,000 to foreclose. Sometimes much more. I don't know what your situation is that you became unable to pay your mortgage, but it may not be too late to refinance now and save your home. It's called a Foreclosure Buyout, and most mortgage brokers can find the program if you qualify and if you want to save your house. Even if you have to refinance and turn around and sell it, you would be saving some of the equity in your home. |
|
karensita69
|
i work for a mortgage company and yes, unfortunantly it can get repossesed, if you already recieved a notice of default letter the bank is allowed to forclose your home and take the remaining equity balance, sorry hun... you should call chase banc, they help with that sort of situation... |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
11 | 21 minutes(s) ago
| | | |
11 | 54 minutes(s) ago
| | | |
11 | 2 hour(s) ago
| | | |
11 | 4 hour(s) ago
| | | |
11 | 9 hour(s) ago
| | | |
11 | 11 hour(s) ago
| | | |
11 | 1 day(s) ago
| | | |
11 | 3 day(s) ago
| | | |
11 | 4 day(s) ago
| | | |
11 | 1 week(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
