 How should I counter a lowball offer on my house? |
| My 100-year old house in an older, inner-ring suburb with good schools and generally high property values, has been on the market for three weeks now. Traffic has been steady, with agents' ... |
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 Misleading & False MLS Property Details? |
I am in the process of buying a house. We did a visit and made an offer. After some negotations, the house is now under contract.
We revisited the property to check on a "Jacuzzi" ... |
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 Ex-boyfriend dosen't want to leave apartment.? |
| Me and my boyfriend have recently split up. He does not want to leave the apartment. I was orginally the lease holder, and later added him to the lease. The lease is up in a month in a half. Can I ... |
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 Question about defaulting on mortgage? |
| My neigbhor is really sneaky and has lots of police problums and such. one day she called me and asked me to look out the window to see if her boyfriend was home. when I looked out the window there ... |
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 I have moved into a new house...? |
and i have found a half dead person in my freezer, they dont want me to go to the police what do i do? he cant stay here forever???
Additional Details
sorry i shouldnt joke about things ... |
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 How to reduce the price of home already on market? |
| I'm considering reducing the price of my home that has been on the market for 3 weeks with more or less no response from the market (not one prospect has asked to see the house, other than at ... |
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 Should council house tenants be able to buy their houses at a discount price? |
| I just wondered if people think it is fair. My husband and myself pay about £800 a month on our mortgage, my parents had to put their names on the mortgage so that we could afford the house. Now I ... |
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 Is a landlord allowed to drop by and inspect his tentants' apartment? |
| Our landlord is saying he is dropping by for a "thorough inspection" we have lived here for 3 years and never has this happened. We are good tenants but he doesn't like us. Is he ... |
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 This is about living with a individual i dont want to live with and how to legally get thm to go in a month.? |
| o.k. i made the mistake of leting a worthless roommate live with me. their name is not on the lease or anyway from being on the lease. i gave this person a receipt for a months rent from dec. to jan.... |
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 Are older homes better constructed than new? |
| I have a 40's concrete block home and I really had to fix it up, updating it, rewiring it, etc., but it seems like newer houses are built so shoddily, and they fall apart in 5-10 years, What do ... |
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 House Hunting? |
| My fiance and I are interested in buying our own home. But neither of us have any idea where to get started? What are the steps in looking and purchasing a home of our own?... |
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 How to i break it to my landlord that i fixed up a part of the house and am going to decuct from rent? |
| I replaced an old threshold (the part of the exterior doorway that weather seals the floor to the door, usually metal with a rubber gasket) I did this because the old one was rotting out and moving ... |
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 Help! Scared to start my new career as a Realtor.? |
| I've been a stay at home mom for 6 years and I'll soon be taking my real estate exam. I'm confident about the test but I'm terrified about starting work. I live in a coastal ... |
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 I am suspose to close on a house during the week of december should I still pay rent to my landlord or not? |
| I am going to be moving in december and will just let the landlord have the security deposit as a form of rent for december, and I going to jeopardize my chance to close on the house if I dont pay ... |
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 People with apartments?? |
| I may be getting and apartment but i was wondering if you could tell me whats the best floor to live on. 1,2,3,4th.. or whatever, and why.Thank youu!... |
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 Landlord entering without asking...and breaking a lease? |
| So my landlord and I had a one year lease. I have been in the apartment for 7 months now. He broke the lease, by coming into my apartment when I was not home, for a no good reason ( to count floor ... |
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loke | I'm losing my home..? |
i bought my 1st home as a single mom in 1995. 8 years later sold it and bought my 2nd home alone. well, i fell in love with a soldier, left my 60k/yr job to relocate with him. now unemployed, we are renting my home out for 1500/mth. the mortgage payment was 1900 and is now doubling due the the crappy loan i've gotten stuck with between selling my house and marrying my soldier. military income doesn't allow for us to afford 2 homes now. i'm going to school and may have to claim ch.7 to get out of this heartbreaking situation that 9million other americans are in. never thought i'd be on the verge of losing it all with a perfect credit score and all. there are no other options at this point...any advice? i'm guessing i have to dump the house and claim ch7 aqnd start over. horrid...have never felt so bad in my life.
Additional Details
1st of all, my husband is not a loser. he has served in iraq and will be going back there in oct. the housing crisis and our wonderful country is causing me to lose my home. my lender is offering me an interest only loan that has higher payments than before and it's not fair. i was only looking for support here (thank you to those who have sent me well wishes). it doesn't seem fair to put your life on the line and lose your home. this is happening now to many americans. my husband has also seen young kids die in iraq and gets to come home to a country that doesn't give a damn. what a shame. |
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suzanne
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Sorry. The only solace is that you are one of may hundreds of thousands in the same situation, and it is only getting worse.
He sounds like a loser though, if you have gone from that income to nothing AND you're about to lose your house. What sort of support is that?? Dump him while you're at it. |
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Phaery G
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I'm sorry things are working out like this for you.
One person who might be able to give you some good advice is Dave Ramsey, a financial counselor who has extensive experience with real estate. If you live where his radio program is broadcast, you might be able to call and talk to him on the air. You can also email him. The addy is on his website.
Edited to add: you should also check with your JAG office to see if there's anyting in the Soldier's and Sailor's relief act that will help you. |
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BeBeauti
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Call your mortgage company and tell them if they don't put you on a fixed rate and lower interest rate they will have to foreclose.
Trust me they don't want ANOTHER house to foreclose.
I'm actually in the process of getting this done, we hear back from the mortgage company this week.
Just call, many lenders are trying to keep people in their houses.
best of luck, i feel for you...i'm in the same boat. |
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walt631
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I am sorry to hear about your problem. So many people make choices based on the heart and not the head.You might try to throw the house on the market before your chapter 7 and pay it off. That way, you can at least start with a clean slate.Remember chapter 7 stays with you for 10 years on your credit.Good Luck.Been there and done that. |
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Debra I
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You will eventually get past the ch. 7 and foreclosure, if you keep your payments up on everything else and from that point forward. The government is working on some law changes that may help you get help from your lender so that you can sell it instead though. I'd do a little research on those new laws and their progress before filing. Also, seeking the advice of a bankruptcy lawyer may help also. |
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brusselsprout
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Who is your lender. Some of them have different kind of loans that can help you keep your house. Or find a different lender and refinance at a better rate. OR Sale it as fast as humanly possible, even if you take a loss, at least it won't ruin your credit score. |
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Raknahs
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Hi Loke, I will pray for you and your husband. You call your lender now and tell him that if they don't work with you, you will foreclose. The lenders hate foreclosure more than the borrower. So they will work something out for you like waive extra late charges/give you some time to catch up etc. Try and auction of the items from your house to raise some money, do a part time job to raise some more money.
I think you are a fighter and you will fight your way and come up with the big W :-)
This is what i came across in uscourts.gov under Alternative to Chapter 7. Hope this helps..
In addition, individual debtors who have regular income may seek an adjustment of debts under chapter 13 of the Bankruptcy Code. A particular advantage of chapter 13 is that it provides individual debtors with an opportunity to save their homes from foreclosure by allowing them to "catch up" past due payments through a payment plan. Moreover, the court may dismiss a chapter 7 case filed by an individual whose debts are primarily consumer rather than business debts if the court finds that the granting of relief would be an abuse of chapter 7. 11 U.S.C. § 707(b). |
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safjbielabglv
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I am going through the same thing. I just bought my second home. I rent out the first home, no prob there. The one I just bought I thought I was going to have to give up because the payments are so high. Right now I am renting the upstairs to a horrible tenant and my family lives in the basement. I hate it and have a desire to sell it. I really loved this home and had so many plans! It sucks that it has to be this way. |
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Happy
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Why are you in school? Why are you not getting another 60k salary job? Raise the rent on your home to cover the mortgage. Sell the house, at a loss if you must. Then you can work on paying off only the lost amount, as opposed to the whole.
You should suffer whatever hardship you must before you file Chapter 7. You have a moral and civil obligation to pay your debts. And don't use the "safety in numbers" argument. This is your individual problem. You got there based on your poor decisions. It is your job to get yourself out. |
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rabidmoth
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man, that's rough. i'm praying for ya. that's about all i know to do |
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Credit Guy
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You are right, it is a shame. But you should not be ashamed. Your husband follows orders. We can only blame his Commander & Cheif.
Let me see if I can shed some light that has yet to shine.
First, you don't have to file bankruptcy to give up the house. Bankruptcy may be useful if you need to get out of many other bills at the same time, but it won't save a home you don't live in.
Try these:
1. Citing your status as active combat duty military, request a "Support the Troops" interest freeze on your mortgage.
2. In conjuction with #1, and using the same tactic, request a principal reduction on the existing mortgage owed, down to an amount equal to the market price of the home, so that you can sell it. This is called a "short sale", when the lender takes less money than what is owed so that you can sell the property and pay off whatever the market allows.
Keep in mind, lenders need to get over-encumbered houses off their books. The rating agencies keep track of how many such loans are in the portfolio of the lender, affecting its credit rating, even the stock prices of the lender. Lenders are making deals like this all over the country - even on homes that are not yet behind in payments!
3. Contact your congressman. Use the same tactics. Request a reprieve in interest rate increases for active duty military. FIGHT LIKE HELL.
No matter what, don't sit back and take it when they try to make you feel like it's all your fault. People need to realize that "support the troops" means a lot more than putting a ribbon magnet on your car. It's time for the country to ante up!
Many of my friends and I campainged against going into this war to begin with. Now we fight for years to get our people out of harms way. You shouldn't have to pay for the mistakes of the government. We didn't seek this battle, but we will prevail. Vote accordingly. |
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abcd
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You have the answer to your question. You should cut your losses before they are totally out of control.
Filing chapter 7 seems best unless you expect a miracle to happen.
Don't worry. You are a smart person (based on the statement that you made 60k/year) and you'll be up on your feet in no time. |
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Jimmy F
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remember it's always the darkest before the dawn |
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sbrown966
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Eew |
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