 Moving from an ARM to a fixed rate loan. Seeking advice on the best process.? |
| I have been in my home for 3 years and I need to try and refinance my main mortgage (I have a 2nd as well). October 1, 2007, my ARM rate jumps from 5% to 7%. I have refinanced my last home, so I ... |
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 Problem with my landlord!!!? |
| I have lived in my apartments for 6 months. My house was broken into in Octber they came out and fixed my door that same day. Now 4 months late my house has been broken into again. This time my door ... |
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 How can we sell the house very quickly??? |
| Our house has been on the market for a month now, which is not long, but as we are moving to Japan at the beggining of January, I am starting to panick...so, how can I make my house more "... |
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 Need to break my 1 year lease immediatley. I really really need help? |
| Lease was effective July 1, 2007. Me and my fiance need out of there immediatley due to us getting sick from the foul odor of the place and the hell on earth neighbor upstairs. I'm going to my ... |
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 Is there law that states I do not have to allow my landlord to show my apartment? |
| My landlord and I got along great I moved in 6 months ago( lease for 6 months) he allowed my to pay extra rent to pay the security deposit as well and I did. I have been very gracious in letting him ... |
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 What do i need in order to get a mortgage? |
| i'm thinking about getting a mortgage next year, but interested to find out how much money i need in order to be eligable for a mortgage, if anyone can help me with this i'd be most ... |
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 My house went to foreclosure and then to sale. I have now been contacted by the bank that purchased the house? |
| The bank that purchased the house has sent me a letter saying I have to vacate the property in 6 days. Is there anything I can do to get more time to vacate or save the house or is it to late for ... |
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 I bonced my rent check, what will happen? |
| My February rent check bounced. So my question is, will the rental agency deduct it from my security deposit, or will they come after me for the money? I have lived in this apartment for a year and a ... |
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 Buying a forclosed home? |
| What are the drawbacks?... |
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 Trying to buy house. listed price 99900 offered 97000 w/seller paying closing w/cap of 2500 what do you think? |
House has been on the market since last november but their realtor is trying to tell us they arent in a hurry to sell...although they already have their eye on a new house.
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 Can i refinance my ballon loan into a fixed loan? |
| my 1st loan 280,000 is a fixed rate 6.65. my second loan 74,000 (15 years fixed with balooon payment of 54,000 at the end). can i just refinance the second loan. or combine the two into one loan. ... |
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| Realtor question.? |
| When selling a home, and one has to go down on price because of the market value....do you pay the realtor their percentage of the price you sold it at? Or do you have to pay the price you put down ... |
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 When is contract invalid? |
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I am renting a property and the landlord advertised and agree that the property would have a backyard. Now he says he is not sure what the final outcome will be. A... |
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 Can I get a loan for a home/ mortgage payment before I pick a specific home? |
I am interested in purchasing a home and have a price range in mind. Can I get a loan for a home in my price range before I choose a specific house??
Additional Details
Thank you all so ... |
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 Can you buy a house with no down payment? |
| is it possible to buy a house or condo with no down payment?would it help if you have good credit and your credit score is 758?... |
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 When young should you bue or rent a house? |
| dont know what to do buy or rent for the first time its not time yet but some friends are moving into there own place should a couple of young pepole buy a house or rent a ... |
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 Should my landlord have warned me about a roach problem before I moved in? What can I do about it? |
Obviously I AM REALLY GROSSED OUT.
I noticed one roach in the sink on my first day. There were a couple the second day. On the 4th night, I opened my dishwasher and it was FILLED with ... |
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 We are looking to buy our first home ......? |
and we only have a couple hundred dollars for down payment but have heard about grants helping you with a down payment and closing cost does any one have any info about them ??
or a website that ... |
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Pia S | House value is dropping like a rock! Anything we can do? Or are we in serious trouble? |
We purchased a starter townhouse about 3.5 years ago, with the idea we would sell in about now (or a year from now) and move into a house with a yard. The housing market was very high then. We have a good morgage, are financially secure... but right now the townhouse is assessing for what we OWE (about $10000 less that we paid) and we have 2 townhouses on our BLOCK going into foreclosure! We can probably stay here at least 2 more years, but then we might outgrow this place (babies and all).... Are we screwed? What should we do? |
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jersey girl in exile
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If you are in good financial shape, just sit tight. Prices will go back up, they always do. Be glad you have your financial house in order, otherwise you could be in deep doo-doo. |
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ZCT
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Nothing you can do, but wait. Those foreclosure sales will probably push down your appraised value. But who knows where the market will be a year or two from now. |
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chatsplas
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Your choices are to stay put, try to ride out the market, or to take it on the chin. The latter would be reducing your home to sell, which would be a big financial hit. Hard call, but I'd stay put and wait for market iprovement, particularly with 2 in foreclosure on your block, further depressing sales. |
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smedrik
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If you are secure you are best to ride it out, eventually the market will recover.
If you find that you out grow the house you may be able to find a way to hold onto it as an investment property. |
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src50
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What you should do is stay put and wait until the housing market bottoms and then turns upward. That could be several years. |
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daeve930
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Probably not screwed, but somewhat inconvenienced. If you can hang in a while, you'll probably get some of your value back. If you're getting crowded, maybe you could rent the townhouse and buy a house...depending on if you could qualify for another loan. Don't worry too much about other people going into foreclosure. Just be patient and bide your time. |
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Jason
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you are just going to have to tough it out |
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Real Estate Guy
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No you are not screwed.
This property is your HOME. You need a place to live. So what would you do anyway.
Real estate prices goes up and comes down. At this point we are in a down true. Prices will go back up.
Feel lucky that you have a nice home, can afford it and have a good mortgage.
Enjoy life and forget it. |
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Your #1 fan
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You bought during the wrong time. Most people were misled into buying. There is no such thing as a sellers and buyers market going at the same time. Also, realtors were pushing people into buying and banks were lending to less than credit worthy people. This is why there is a high rate of foreclosures and short sales. We went through one of the biggest seller's markets ever. People could sell their homes in a matter of days for prices so high...then people could get low mortgages becasue of crappy interest only loans, ARM's, and subprime lending. You are not screwed, but you need to realize that you may not get much for your property since we are in a declining market. If you have some extra cash, buy property becasue once we hit rock bottom, the market should pick up again hopefully at a moderate pace. |
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godged
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What your townhome assesses for is not an accurate measure of its real market value. My house assessed about 15% lower than its real value.
Who knows where the housing market is going to be 2 years from now? It should be better, but it's anyone's guess.
How about calling a Realtor and ask what your townhome could sell for now? There are lots of great bargains out there, if you are in your current house right, this may be a good time to make your move. |
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MEM
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See, this is the first mistake you made ... Never buy real estate with the thought that you will simply sell in 2-3years. It is one of the biggest reasons the market crashed. Real estate is not a liquid asset like a stock that sits and accrues . It is something you buy to live in and build on, not for short-term investments ... You can buy this way you just have to be very aware of the large risks involved.
I am telling you this so you are educated, not to be debbie-the-downer (Saturday night live) ... People are still making this mistake and it is because of that lingering mentality from the housing boom of "oh! i am going to INVEST in real estate." Unless you are a big time national investor never follow national real estate trends. Real estate is hyper local and anyone buying should always focus on just that: the direct neighborhood trend down to the street.
It is not a good sign about other foreclosures on your street as that does decrease the value of surrounding properties ... But don't fret!!!! If you have a good mortgage and you aren't being forced to sell right now then DON'T ... and don't let a greedy real estate agent talk you into selling either. Your options right now are good actually ... The first option is you can keep living there until the growing family situation becomes a reality, and then depending on the market, just rent out your place and then rent something bigger (short term) or if the market is stabilized just rent/sell your place and buy. Don't be afraid to keep your property for rental purposes and grow your real estate portfolio ... now is a great time for rentals ... The second option is you leave now, rent your place and buy a new one (great buyers market but only do it if you found a rent that covers your mortgage and you can afford to have another) or rent another place. My point, don't put your place on the market if you don't have to ... Just rent it out to someone and then find a new place. When the market turns, sell if you want or just build that portfolio like i suggested.
GOOD LUCK!
WWW.TerritoryRE.com |
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vlvtnrbt
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Your decision to make this housing choice should have not been based upon short term factors. There are a lot of "sunk costs" in these transactions and it is usually 5 years or more before these are recovered. Put the baby factory on hold and give yourself a little time to put yourself in a better position to make careful and considered choices about many things, Things will certainly be very different 2 years from now as long as people aren't leaving your area in droves there will be different people who will want to live in your complex. |
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