Question Details

Jose, Home Buyer in Modesto, CA

i have a house that is worth about 325000 i owe 305000 what do you recommend

Asked by Jose, Modesto, CA Sun Oct 28, 2007

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Answers

10
Depends- what is your current interest rate, can you continue to make payments or are you looking to sell?
Do you know the nane of your lending institution?
How long did you live there?
0 votes Thank Flag Link Thu Jun 11, 2009
Good for you! If you like where you are, keep it!
Web Reference: http://iansellsnola.com
0 votes Thank Flag Link Wed Oct 31, 2007
Jose, that's not too bad actually. I've been hearing of "Short-Sales" where the property is worth $425,000 and they owe $650,000!! If you have no issues with the payments, hunker down, build a family, enjoy your HOME, quit looking at the comparables and just get on with your life!
0 votes Thank Flag Link Tue Oct 30, 2007
TALK TO YOUR MORTGAGE COMPANY ABOUT A LU OF FORECLOSURE. trujillo909@msn.com
0 votes Thank Flag Link Tue Oct 30, 2007
Jose,
It all depends on if you have to Sell. If you have to sell then you will have to equip yourself with the knowledge and professional expertise to conduct a short sale. If you do not have to sell then explore options to rent your property with a positive cash flow. Another creative option would be a rent to own option with a non refundable Rent option fee. If you don't have to sell or rent then enjoy the benifits of your home and be in touch with your well versed and knowledgeable Real Estate Consultant that can keep you abrest of your current market conditions. Your Real Estate consultant will best guide you as to the best way to directly market your property, aggressively negotiate and proactively analyse your specific market.
0 votes Thank Flag Link Mon Oct 29, 2007
Keep in mind that what your house may be worth and what someone is actually willing to pay may be two different numbers entirely.
Web Reference: http://www.dianeglander.com
0 votes Thank Flag Link Mon Oct 29, 2007
If you don't have to sell wait and enjoy
if payment become a problem
rent
or sell agressively
A little Feng Shui may help some what
Clearing out unnecessary objects avoid clutter
What is your situation short sale holding on or selling
0 votes Thank Flag Link Mon Oct 29, 2007
Jose:

I recommend that you repost your question with additional information please.
0 votes Thank Flag Link Sun Oct 28, 2007
If you don't need to sell and can affort the payments I would hold on to it. If your needs are to sell be aggressive with you price.
0 votes Thank Flag Link Sun Oct 28, 2007
Pam Winterba…, Real Estate Pro in Danville, VA
MVP'08
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Hello Jose. What you should do depends entirely on your situation. If you don't have to sell, hold on to it. If you have to sell, I would recommend that you list as soon as possible. You may be looking at a possible short sale. Whether you qualify for a short sale will depend on your overall financial situation (i.e. do you qualify for a hardship). If you provide us with more detailed information about our situation, we can probably help you more.
Web Reference: http://www.theMLShub.com
0 votes Thank Flag Link Sun Oct 28, 2007
Ute Ferdig -…, Real Estate Pro in New Castle, DE
MVP'08
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