 Buying a Car and a house at the same time.... Good Idea? |
| I was looking for a new apartment and noticed that where I live I can buy a decent house for under 45,000 dollars. I added it all up and realized that a ten year term loan at about seven percent ... |
|
 Will I ever be able rent again?? |
| To make a long story short about a year and a half or so ago, I signed a lease at an apartment complex that I thought I could afford. I am a single mom of two( was pregnant with the second at the ... |
|
 I am trying to sell my house..is the Realtor blowing me off? |
| i have had the house on the market for 6 months now..i have to call her every 2 weeks or so to see if she is even showing it..i went in it today and found the floor vent lifted and called her to see ... |
|
 7 months of asking for the lease I signed my landlord draws up a new one with diff conditions. what do i do? |
| my landlord agreed for me and my room mate to each pay 550 a month. I signed a lease and they were going to give me a copy once my room mate signed it and they never did. We repeatedly asked and it ... |
|
 Does my landlord have to do this? |
| If there is mold in my apartment (on the ceiling in the bathroom that I can actuall see and it's a huge patch) does the landlord legally have to bring in a mold inspector or an insurance agent ... |
|
 W/O a written contract can a landlord hold your deposit if nothing wrong when you move out? |
| After living in a basement apt for two weeks we find out the landlord(lives upstairs)grows pot in back yard, and smokes it. We both work at a no nonsense job, where we could be terminated for ... |
|
 Did the landlord just trick my mom? ? |
Have you ever heard of a 1 Year lease lasting only 6 months?
Well this is the story .. the landlord renewed the lease 11-21-08 .. he had pre-dated it for 07-01-08 and she signed it .. i ... |
|
 If i own landlocked property and cant get on the property can i make the government buy it? |
| i own 12 acares of land. there is a driveway that connects to the land but it is emenent domain property my deed says i have no easement unless the property owner next to me will grant me easement ... |
|
 Interested in donating a mobile home to hurricane Katrina people what agencies or group do I contact ? |
| 16x80 3 bed 1 bath needs some TLC and repairmust be moved, transportation costs are extra. located in SE Nebraska ,near Lincoln.... |
|
 What percentage of your take home pay would/do you spend on your mortgage? |
| I am a first time buyer in London, and am wondering what percentage of take home pay other home owners (not necessarily in London) spend on their mortgage payments on a monthly basis (repayment and ... |
|
 When i signed up for a mortgage, i said i would be living in the house...? |
| I never intended on moving in. Now the house is behind in payments and someone said they might investigate whether or not i lived there. If they determined i never lived there, i'd be in ... |
|
 Is it legal for aperson 2 harrass you at work for an unpay bill? |
| Lets say, the Landlord did not fix the heat, Does that cancel your contract? Can you move out of the house inmeadiatly without running the chance he keeps your deposit. The landlord calls your boss ... |
|
 Is it worth it to have a home inspection done if the house isn't even 5 years old? |
| The house isn't even 5 years old... Is there even that many problems it could have? Also, the home comes with a 1 year warranty.. Is it worth the money to have one done? What's the ... |
|
 What happens when you are moving and cannot get a hold of your landlord.? |
We are on a month-to-month lease (starting from the 1st of each month.)
We have been trying since 2 weeks ago to let the landlord know we would be leaving February 15th. We have had no replies ... |
|
| How much to closing costs run on a townhome? |
| we just got our contract signed and we close on the 31st of july. how much should we bring to the table for the closing costs?... |
|
 Should I pay my house off or not? |
| My house is almost paid for. I have always heard you should not pay it off then there are others who say yes, pay it off. What are the advanges of paying it off or advanges of keeping some kind of ... |
|
|  |
Filipe A | Lower house prices equals higher mortgages? |
|
 |
 
Surenuff
 |
An existing fixed-rate mortgage does not change with the value of the house.
The problem being discussed in the press right now concerns adjustable rate mortgages that are having their monthly payments raised because interest rates are higher. This becomes a problem for folks who 'bit off more than they can chew' and can't afford the new higher monthly mortgage payments, and if their house is also worth less in the market than what they paid, they can't even sell to get out from under the mortgage. This impact will push foreclosures higher. |
|
sem3578
|
A lower house price would mean a lower mortgage. |
|
cjkloanguy@yahoo.com
 |
nope. High ltv (amount owed compared to apprasial) will. Interest rates are tied to economy, good economy higher rates.
Check for inflation and employment to evaluate "good economy".
Gov stopped economic deppresion after 911 of dropping rates (more people borrow, more spending more jobs), and now inflation is 4.7, too high, so rates should be going up like they have been. But very stable. I would like to think we will stay under 7% for the 00s |
|
Price is what you pay for value.
 |
Lower house price means smaller mortgage.
For example, if a house costs $500K and you have $100K for down payment, the mortgage loan is $400K.
If the house is $300K and you have $100K for down payment, then the mortgage loan is only $200K.
As housing market continues to slump, if you don't plan to delay your plan, please interview several and pick a good realtor or agent.
Bad ones will talk you into buying the largest property at your credit limit. Good ones will find you a good deal (Sellers are offering discount and incentives now).
Try to stay away from Adjustable Mortgage, because 30 year fix mortgage rate is very low right now. There is no reason to use Adjustable loans except fatter commission for loan agents.
Interests only loans are not good iether. Mortgage payment consists of two parts: interests and principal. Interests are like rent, which doesn't add to the equity to your house. It simply disappear as your pay it. If you want to use interests only loans, might as well rent, especially during market downturn, because housing price won't appreciate.
Finally, for tax benefits, talk to your CPA or tax accountant. Do not consult finance with realtors or agents. They get commissions when you sign the check!
Good luck!
This article gives you tips on negotiation:
http://biz.yahoo.com/brn/060909/19463.html
Articles about current market:
http://money.cnn.com/2006/09/25/news/economy/homesales2/index.htm?postversion=2006092513 |
|
Scott
|
You need to further explain your question or make a better statement. |
|
quietwalker
|
A mortgage is a legal claim against real estate for a given sum of money, plus any interest accrued. That said, lower house prices mean that less money would need to be borrowed for purchasing a house and, as a result, the amount of the mortgage would be lower.
What I think you were trying to ask is whether lower house prices might cause interest rates to drop. If this is what you were trying to ask, my answer is that house prices have little to do with the interest rates. What the reflect is the lack of demand from possible buyers, meaning that people aren't buying houses so the prices are dropping in order to make houses salable. Because fewer people are buying houses now than a few months ago, the demand for borrowing money has also dropped, therefore the interest rates will in all probability fall. As people begin to buy more houses when the cycle turns, the prices will rise, as will the interest rates, as will the mortgage balances. |
|
MonteCarlo
|
Not really. depends on a lot more factors |
|
wolfman1018
|
Not true. Your credit score and lending institution have more to do with mortgage rates than the residence cost. Obviously, lower house price equates with a lower mortgage payment. I have to agree with "SURENUF"'s answer. |
|
book0602
|
Lower house prices might mean "handyman special". Be sure to ask questions. |
|
Photographer
 |
No, lower houses equal less equity. Lower houses also means higher interest rates. High prices means low interest rates |
|
Jenyfer C
|
depending on interest and term |
|
TJTB
|
Not necessarily. depends on the rate terms. |
|
EconomyMan
|
You are all OFF. What really controls the interest depends on how much money is invested in T-Bills, primarily and almost exclusively, from other contries. Because the majority of the world was using the dollar as their basis for the economic system this went hand in hand. As more contries buy up T-Bills they are essentially paying off the US Government debt to the federal reserve. In turn, the national and international interest rates from the federal reserve are lowered when there has been a large purchasing of T-Bills. Now, when the purchasing of T-Bills is low, the federal reserve needs to make up losses by increasing the interest rates. This is what caused the variable housing rate disaster in 2007. Because it was variable, one minute it was 4.5, the next, it was higher than even 8% in some areas. If you really want to see house prices drop, here's the secret. Stop using credit and don't buy houses, it forces the banks to lower interest rates INDEPENDATLY of the federal reserve. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
12 | 38 minutes(s) ago
| | | |
12 | 49 minutes(s) ago
| | | |
12 | 2 hour(s) ago
| | | |
12 | 5 hour(s) ago
| | | |
12 | 6 hour(s) ago
| | | |
12 | 11 hour(s) ago
| | | |
11 | 1 day(s) ago
| | | |
12 | 5 day(s) ago
| | | |
12 | 1 week(s) ago
| | | |
12 | 2 week(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
