market value
Real Estate Investing: Judging Home Value
Q: I put an offer in at 20 percent above the asking price for a property in the neighborhood. The house was originally priced about $70,000 and then later reduced it to about $50,000. We don’t know why the owners …
Options for Underwater Mortgage Holders
Q: I need guidance on what to do with my underwater mortgage. My wife, my preschooler, my infant and I are living in a house that we owe $90,000 on that we bought eight years ago for about $100,000. Comps …
Understanding Streamline Refinancing
Q: I was trying to do a streamline refinance of my mortgage and was told that the lender can’t decrease the interest rate on my loan without changing the number of years left on my loan. I have never refinanced …
Selling House At A Loss Might Have Benefits
Q: Can you please help me. I am 32 years old and earn $63,000 a year and invest 8 percent of my salary into my company’s 401(k) plan. I have $90,000 in cash in the bank. I also have a …
Refinancing Options For Homeowners Underwater
Q: Our home is under underwater. We have a first mortgage with a big box lender for about $450,000 at a fixed rate of 6.5 percent and a second with a different big box lender for $100,000 at a variable …
Refinancing A Home Equity Loan In Texas
Q: We refinanced and took money out of our home in 2005 with a Texas home equity loan at 7.5 percent. Whenever I ask about refinancing with any one of numerous mortgage companies, I am told that any refinance would …
Mortgage Refinance Rates And Closing Costs Higher For Investment Property
Q: I have two homes in two different cities. One of them is a rental and the other is our primary residence. My wife and I have excellent credit and we have an existing home equity line of credit (HELOC) …
How To Advertise Your Vacant Lot For Sale
Q: Several years ago my husband and I purchased a vacant lot for $11,000 in a lake/golf community more for investment than planning to build. We’re recently “retired” due to job cuts and not because it was our choice. We …
Tax Implications Of Selling Rental Property
Q: My sister owns a rental property in California that had approximately $200,000 in equity. She owes $200,000 on the mortgage. This property is now valued only at about $250,000. She also has a mortgage on her primary residence nearby. …
Foreclosure Activity Down, But Will It Last?
In its latest report, RealtyTrac announced that foreclosure activity fell in 84 percent of metro areas with at least 200,000 residents on a year-over-year basis. That’s the good news. The real question is how long will it last? According to …
