 I just got a note saying my landlord had sold the house and gave me a 7 day notice to leave, what can i do? |
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 Need to break our lease.? |
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 Do leasees have to pay for water? |
| rental accommodation, houses/flats. Who pays the water rates?... |
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 Security deposit for apartment...? |
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 Stop Payment? |
| I stopped payment on a rent check recently because the landlord has not done the things he said he would do. Fix kitchen window no glass its all boarded up. Trash piled up on both sides of our ... |
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 Can A landlord take a renter to small claims court, if the tenant never signed a LEASE agreement? |
| Long story as to why we don't have one, but house is in disrepair. We are holding this months rent in a savings account until a huge list of repairs we've had since January get taken care ... |
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 Is house price falling values a good thing? |
| Are prices going to start to become more realistic instead of the super inflated prices that they have enjoyed over recent years.... |
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 If I intend to rent my house do I still to have m home insured? |
| I guess I'm wondering if the renter will have to get renters insurance and that'll do or even if they do I need to continue having my own insurance on the property?... |
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 Apartment damages??? |
| I rented an apartment 3 months ago in pennsylvania. I have been a good tenant except that my two dogs have done some damage to the house(carpet damage, chewed window sills) My landlord recently ... |
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 Would it hurt resale if you put a door going outside in the bathroom? |
| Our house is set up funny. We of course have a front door but instead of a back door we have one on the side where our garage is and thats it. We were thinking about putting one in our only bath ... |
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 If you are renting can the rent be increased 9 days before its due with no other notice? |
| I am renting a mobile home and was informed yesterday that my rent will be increased from 485 to 800 effective 10/1/06. Shouldn't a person be given notice, especially when you are informed ... |
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 I live in a council house but the area is really rough and there are always loads of drugs etc around? |
| i want to give it up and rent privately with a friend is this sensible? i want to move to a better area and better myself it will be more expensive but i hate where i live. am i better off just ... |
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 What would you do? |
| I live in a room in a converted hotel. Yesterday I came home and someone had come into my room without my permission (they'd left the door unlocked and the TV had been switched to a channel I ... |
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Mrs. Moody | My house is worth 256,000 less than I owe...? |
I am very nervous because my house has dropped significantly in value. We owe $642,000 on it and according to zillow.com it is worth $386,000. We have 3 mortgages on it 1st for $405,000, second for $107,000, third for $130,000. I called the holder of my first to see about the government refinance and they said that they are not participating...Any advice?
Additional Details
Right now, I can afford the payments, but the house will adjust in one year(5 year fixed) and I know it will be impossible to refinance owing so much more than it is worth. There is a similar size/quality ect house a couple of doors down that has been sitting on the market at $300,000. It is in a very poor neighborhood. It was worth $600,000 when we bought it, but values have gone way down due to foreclosures and a generally poor area. |
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Dale H
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Try contacting http://www.hopenow.com.
Zillow is not that accurate. Try checking with a Realtor to get a Broker Price Opinion. They will be happy to provide one if they think you may list the home. An appraisal is really the best way to determine the value.
Was your home ever worth 642K? I did not think that any markets had lost 40% of their value.
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godged
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I very rarely suggest this, but you are probably a candidate for foreclosure. Treating your home as a giant ATM creates these situations, and I have the feeling your credit is already trashed, the foreclosure shouldn't effect it that much.
Who buys a $600,000 is a poor neighborhood anyway?
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bud68
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Can you afford the payments or not? That is the central question. If you can, keep them up and wait for the markets to come back. If you can't, try a short sale (though that will be hard with three loans!!!). |
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LE
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First, that 987 must be the new credit scoring model. The old model had a maximum of 850(so 750 is very good in that case).
Second, there is a difference in what a house is worth and what you can sell it for. This is happening a lot, especially to people with Jumbo loans. I work with a guy whose house appraised at $799k. He wanted to move quickly, so he listed it at $700k. 6 months and no sale. He kept going down until he got to $599 and still no sale.
He asked his realtor if he should go down to $550k, but she said no. There are just no buyers(or people that qualify) for large loans like that. |
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reenzz
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As long as you can keep up with the payments..hang in there, the housing prices will bounce back soon. |
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Pengy
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The only thing I will comment on is the credit scores go from 350, to 850 so a 987 is not possible. You got yourself into this debt, tis your problem. Start selling things that you purchased with all the extra mortgages and pay them off. My taxes should not have to bail out your foolishness. |
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Lex
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Don't trust a website - get a realtor out there and have them give you the value. Wow - that's a lot - talk to a mortgage broker to ask about refinance but no way will you be paying - in the end - less than what you agreed to as a purchase price - buyer beware. |
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Joe K
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First, can you afford the mortgage payments? Many, many people are upside down (owing more than a home is worth) on their homes. I think we are nearing the bottom (give or take 12 months) of the market. Now, does that mean it will recover in 1 year or 2 or 3, don't really know, but if you can afford the payments and are planning on staying there for 4+ years, just hang out.
Also, zillow is terrible. I mean, it does show some stuff, but until you SELL it (not appraise, or list or talk to your "expert" neighbor) you really don't know what it is worth. No one can tell you exactly (including zillow) but you should be able to get a good idea.
Now, if you have to sell b/c you are moving or can't afford then you need to work on a short sale. If your mortgages are adjusting up and that is why you can't afford, then you need to go back to the lender and tell them they are need to play ball or they are going to lose their shirt - but in a nice diplomatic way :)
If you need to sell or can't afford, start with a local trusted Realtor who has been in business but has experience with short sales and knows something about loan modifications. They can get all your options in front of you. Any short sale or loan modification will take a while, so be patient.
Best of luck. |
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rooster_nugget
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yep, dont buy a house you cant afford. housing bubble. |
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Holly R
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Do not listen to ANY website for valuation. The site will not take into the actual neighborhood that you live in. I don't see any reason for concern as long as you plan on making your payments and living there for a while. Housing prices will recover and I seriously doubt yours dropped that much in value. Unless you're selling a condo in Miami you're probably fine. If you are really concerned, have your house appraised. It will cos you $250-$325 and you''ll know for sure. |
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♥~*Momma Bear*~♥
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Sorry but imo a computer cannot tell you how much your house is worth. And wtf do you have THREE mortgages out on your home? You're going to be one of those idiots that can't pay for their house and be like "UHHH WHAT DID I DO WRONG! DUHH" Well you need to refi or start paying some of that off. |
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Marysue
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Zillow is a total piece of crap. If you're that worried, hire a profesional appriaser.
I have to agree with Expert Realtor. When you chose to treat your home like a bank, you created this situation. If you’re in a bad spot, it’s because you made some bad choices. Now you get to deal with them.
Why should everyone else’s tax dollars bail you out? |
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roadhunter
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As long as you don't sell it, there is nothing to worry about. Also, Zillow is not very reliable. |
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Landlord
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Zillow is never correct, if you need to know the value you need an appraisal.
Zillow is just for entertainment and has little to do with the real world. |
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Expert Realtor
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Zillow is NOT accurate..if it was, appraisers would be out of business.
Zillow is not even CLOSE to being accurate.
Three mortgages, is very, very poor financial management of your home...it's not an ATM card.
If the first won't refinance with the gov't program, they won't.
You do realize that you just kept cashing out the equity don't you? How did you think you were ever going to pay that off? |
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