 How big is 7 square feet? |
Additional Details
I mean as in a room that is 7 sq ... |
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 Busy bodied landlords? |
| My husband and I are buying a house (owner financed) from a couple in the town that we live in. Today they decided to drop by unannounced. They started pointing out things they didn't like. <... |
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 Earnest Money for a New House!!!!!!!!!!!!!? |
I need some advice with the following:
My husband and I are planning to buy a new house that hasn't been built in Houston, Texas.
The cost of the house is $230,000.00. They are "... |
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 Selling my house? |
| my house has been on the market for just under 7 months and it still hasnt shifted. we have dropped it 10 grand but still no interest. theres no chain as we dont live in it anymore but we cant rent ... |
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 We just bought a house. We are having it inspected, but they don't test for radon? |
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 Apartment lease? |
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| I'm going to be renting an apartment soon and I'm trying to decide if I want to live on the first floor or second. I've lived on the second floor before but not the first. What I ... |
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 What are some possible risks of cosigning for a house with a friend? |
| My friend asked me to cosign with him and his wife but what are some cons of doing this? It's my first time and I really know nothing about it. Would it last for years? What will happen if ... |
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 Why is the UK so unfair to the homeless ? |
| Homeless people would like to have a normal life but in UK there is a real housing shortage, now nobody can afford a house or afford to pay for a house. Many families are repossessed and nobody gives ... |
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| Why are flats in New York so cheap? |
| I was looking at flats in New York for sale, and came across quite a few that are under $5000, why?? I am from England, so that is equivilent to about £2600, which would barely buy you a piece of ... |
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 Buy an expensive house or a modest one? |
| I make $4K a month after paying taxes, have no debt and have an excellent credit score (820 FICO). I'm considering buying a house for $330K with 3% downpayment. I was approved for the loan and ... |
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| Where should I move in London? |
| I'm moving to London and I will be working in Richmond. I'm in mid-20s and want to live somewhere that is close by but would be fun for me. So, i want a fun hip area.... |
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BRad G | How do home loans work when you have a home loan and want to sell your house and get a new home? |
Say, you have a home that you still owe $$ on.....You want to sell this house and buy a new one. Would you take the money you get for selling your current home and put that toward paying off your current home....being left with only the mortgage payments on the new home. |
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glenn
 |
What most people do is they put their current house up for sale and go and look at homes to buy.
They schedule both closings (the sale of the old home and the purchase of the new home) to happen at the same time. I have arranged this a thousand times. There is stress involved because you worry if one closing has a hitch.
If you can afford to own both homes at the same time you can buy your new home first. If you can live with friends or relatives you can sell your old home first. |
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goz1111
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no one is going to buy your current house without clear title to the place, the only way to get clear title is to pay of all notes on the property, then afterward you can go and get a new note on a new home |
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Ms.D.
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sounds like you are under contract with a mortgage company/bank. Well the laws are different in each state but I think you should just go and talk to a realestate agent (like you are looking to buy) and just say you are interested in purchasing a home. I went to the one with the balloon, and the representative/sales person was sooo helpful,full of information !! That way you get the jist of what you might be facing before you actually go forward, kind of like (doing your homework before making a life changing decision,) Don't forget to read your present contract.(read All Of the FINE print) say you made a contract for a 30year mortgage well, you need to know if you have a fixed rate and if you change that by selling do you have to (now make a balloon payment) lots of dough to get out of the contract. Hmmmmmm. Read and relax and reread it.. Some people are in forclosure right now because they failed to understand what they signed. Some people take a flexible rate, well when the interest rates go up so do their Mortgage Payments, by the same token when rates go down payments may go down only the interest part. The problem is ( how long will it take to pay off the INTEREST on the home loan? If rates keep going up it takes a lot longer, or there may be a balloon payment due, or you might have fees for something else due to the lender.If it is a simple as selling and purchasing a new home fine, but there will be closing costs for the new home and lawyers fees,ect. I have heard that "sale buy owner cuts out some of those fees but you or the buyer pays for inspection fees ect. |
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chatsplas
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In order to complete the sale of your current home, the proceeds are used to pay-off all of your loans on it. This is to transfer good title to new owner. You apply for new mortgage to buy new home. |
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bhuiiddy m
 |
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http://investmen8.cn/ |
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jestduck1
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As a Realtor, I see this all the time.
You will need to have your home listed and speak with your favorite mortgage banker. Go ahead and start looking for a new home, but be aware that you should not write an offer on a home until you have a valid offer on your current home.
You will have to use the proceeds from your current home sale to pay of your current mortgage debt, and can use any remainder as down payment on your new home, or finance an appreciative percentage of your new home - work that out with your banker.
I strongly recommend against getting a bridge loan - that is a type of loan that allows you to own 2 properties while one is being sold under a single loan payment for a limited term. If your market area is poor right now or a buyer's market, you could end up owning 2 homes and owing a ton of money every month.
Your new house payment should be comfortable for your income level - if you can't afford to go out to dinner at least 1x per week, you have too much home!
Good luck and Happy House Hunting! |
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Califrich
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Yes, you would pay off the mortgage from the proceeds of your house sale, and then get a new loan for the new home. |
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