Posts Tagged ‘mortgage payments’
Do you still owe late payments on a mortgage after the home sells?
July 22nd, 2009
If you sell your home for enough money to pay back the principal balance on your mortgage, do you still owe the payments you are delinquent with at the closing?
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Posted in General Mortgage, Upside Down Mortgage FAQs | 
Tags: delinquent, home sells, mortgage payments, owe at closing, owe late payments, owe payments, pay back principal, pay back principal balance, sell home for enough money, still owe, still owe after closing, still owe mortgage payments | 
1 Comment »
Can we just stop making payments?
July 12th, 2009
My situation is this. We owe more than our home is worth and we are having a difficult time making payments. We want to refinance but need to know how being upside down would affect our decision.
Is it wise to stop making payments and let the bank restructure our loan?
Do we have to go that route to get help?
We have never been late before and we both have good credit, but we are having a very difficult time making our mortgage payments - probably like a lot of people today.
Does anyone have any suggestions?
Thank you for your help and advice.
Posted in Behind On Mortgage, Foreclosure, Help with mortgage, Home Loan Refinancing, Loan Modification Help, Refinance Questions, Upside Down Mortgage FAQs |
Tags: bank foreclosing, bank restructure loan, can we just walk away, cannot afford to make payments, cannot make mortgage payments, difficulty making payments, good credit, hard times, having difficult time making payments, just walk away, let the bank take home, mortgage payments, never been late, owe more than home worth, restructure, stop making payments, upside down, upside down and refinancing, upside down and restructuing, want refinance |
1 Comment »
Selling a Home When You are Upside Down
June 26th, 2009
When you are upside down on your mortgage, you might want to sell your home. When it is a buyers market, home prices are falling and the sooner you sell, the less upside down you are going to be. Although, your home is now worth less than the amount you owe the mortgage company, you can sell now and cut your losses. In a buyers market, if you are already upside down, it is likely that you are going to be even more upside down later on. If you can afford to pay the mortgage payments and wait until home prices go up again, then great! You will not have a problem in that case. However, if you are having a problem paying monthly payments and want to sell your home later on, it might be worth much less and you will have to make up the difference out of pocket.
How to sell a home fast and for as much money as possible?
It is in your best interest and even necessary, when you are upside down, to sell your home for as much money as you can possibly get away with. There are things that you can do to make your property value go up. Anything helps. There are simple things you can do that does not cost much but will significantly increase the property value and attract buyers too. This book can tell you what you need to do to sell your home. Some homeowners go overboard and overspend on the home just before they want to sell, this could be a mistake because sometimes what they do to the home does not increase t value of the home at all.
Simple things you can do:
- tidy your yard
- cut the grass
- rake the leaves
- trim the bushes
- edge the walk
If you do these things then potential buyers will be more impressed with your home and they will want to buy it more and you can do them yourself! Read more about what else you can do to help sell your home.
What you can do to your home easily and cheaply to sell better