 When renting out your home, can the tenants switch all utilities to their name? |
| we're in los angeles, and instead of billing the tenants, i'd rather they switched everything over to their name. power, water, trash, gas, tv, phone--everything. can that be done or do i ... |
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| We live in arizona and my husband is getting a promotion and we have to move Las Vegas but we have a rental agreement. Any suggestions??... |
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 How do I save my home from Foreclosure when I already have a Sheriffs sale date,and nobody will refinance us s |
| Since April 06 our adjustable rate mortgage has gone from 7%up to 11.5% which has forced us into Foreclosure.We love our home VERY much but are going to lose it.CAN ANYBODY HELP US? PLEASE PLEASE PL... |
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| I have started making enquiries about buying a house and I am due to view a property today. Any tips for what bad things to look out for in a house?... |
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What makes buyers to decide to work with certain realtor ?
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| I'm new at this, I'm young and looking to get an apartment soon with a friend.... |
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| We're moving out of our current property in just over a month's time. We're due our landlord 1 more months rent but we've just found out he is not registered (landlord's ... |
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| Im having a yard sale this weekend and was curious where i could purchase a sign at. I dont feel like making one.... |
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| Why are the morgage co. in trouble. Laymen's terms please. When you get a loan, don't they have to pay for house and you pay them back? Why are there so many foreclosures?... |
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| we are selling our house and i need to know, if we are selling the house for 250,000 and the real estate gets 6% then how much money does she get?... |
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| I had my home appraised Feb. '06 and took out a mortgage. (the home was paid for) I now need additional monies and want to get a HELOC (home equity line of credit.) It's been exactly one ... |
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 How to make sure my son in law does not kick me out of house? |
Additional Details
I am moving in with my daughter and son in law. I have also agreed to pay some money down on a new home. I just want something in writing that if something were to ... |
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 My landlord is trying to show the house while i am a tenant can i say no? |
| My landlord told me she was selling the house to her sister and come to find out its up for sale and now they want to bring people in my home to view the house i am very very upset with this and i ... |
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 Moving into an apartment for first time. Tips? |
| I am moving out of my parents house and into an apartment with a friend. I have lived on my own before (during college) so this is not a "brand" new experience but living in an apartment ... |
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| We rented a house for $1,200.00 a month and were promissed a working stove and fridge within 2 weeks after we moved in. Every month we asked the landlord when we would be getting them, even ... |
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David C | Is it possible to refinance? |
I bought a new home 1.5 years ago and paid 290k and did an 80/20 loan. The loans are interest only 1st 10yr 232k @6.5% and 58K@11.5% . Since the decline of the FL market the house is probably worth 260k at best. Is there any way to refinance with negative equity or at least roll it into one mortgage with a lower interest rate? |
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Baron
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you can only do a loan modification if you are behind on your payments and even then its a waste of money. if you in that situation you could get the 2nd pardoned and only worry about the first thats what i did. (260K 2nd) all gone! =D
what you should do is just wait till the market goes down more becuase it will then by another house and short sale yours. it will come on your credit but it looks better then a forclosure. |
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Expert Realtor
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Nope.
You tapped out 100% of your equity and the value of the home went in the opposite direction.
Welcome to the world of homeowners that are in negative equity and can't do anything about it.
No bank will touch it. |
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loanmasterone
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Since your home has declined in market value you will not be able to refinance the mortgage in the current market place.
You did not indicate you were having problems making the monthly mortgage payments. You should continue to do so since you are not having any problems in this area.
Several years ago, about 1992 the real estate market adjusted itself with many properties falling below the mortgage owed on them.
You simply have to wait out the decline in the value of properties.
I would get concerned in about 6-78 years if the market has not readjusted itself and the property values start to go back up.
The good thing about your situation is that you have a few years before you will have to refinance your home again.
By then the market should have readjusted, values will go up and you should be OK again.
This happens occasionally even in the stock market.
I hope this has been of some use to you, good luck.
"FIGHT ON" |
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acermill
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Not going to happen. The best you can hope for is a refinance for the value of the house in the current market. You would need to bring cash to the table to pay off the difference before said loan would close.
Now do you comprehend why it's not bright to purchase real estate with little or nothing down ? |
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drewxjacobs
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No, you cannot get a loan for more than the house appraises for and yes, a new appraisal would be ordered. |
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Joe D
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If you have recently experianced a hardship, you may be able to retain an attorney to help negotiate a principal reduction to market value on your current loan to make the payments more affordable. Check out this website and give them a call.
www.feldmanlawcenter.com |
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LHill
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YES IT IS POSSIBLE
Most lenders are approving "short refi's" or modifying your current loan at a lower rate. Most of the time the 2nd lien holder will subordinate and take a loss up to 80%. It is pretty much hopeless to deal directly with your lender. The banks are so overwhelmed with the amount of foreclosures that they do not know the process. Hire a loss mitigation specialist to assist you. Make sure you get references before you give any money. If the company will not give references it might be a scam.
check out this site www.nhlap.com |
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iseaulater2
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Unfortunately many other Americans are in the same boat as you. People was buying homes without thoughts of the future and now are losing them. |
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frak1a12345
 |
The only possible way to refinance would be to come up with a big wad of cash to wipe out the shortfall between the outstanding balance and the appraised value and add some equity to the equation. |
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Steve W
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If you owe more on the property than what its worth, you're really not going to be eligible to refinance. It sounds to me like you bought a house that you really could not afford (interest only on both loans) and you have not paid either loan down with additional principal payments. Now, the house is worth less than what you paid (not your fault) and you want a lower rate and payment...not going to happen. Not putting money down on the house and doing both loans as interest only is the cause of the problem you are experiencing. People need to understand that if they cannot afford to put at least 5% down on a property and make a payment on a standard 30 year loan, then they should not be buying a house in the first place. You made your bed, and now you get to sleep in it. |
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Tim
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You can not refinance with negative equity.
You still have about 8.5 years to go on the interest only loan. Just wait for the market to turn around and then refinance.
At least you have plenty of time to wait until it adjusts. |
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