I have no equity my house. My debt equals its current value.
I Want to a 2nd Story to My Home. What Kind of Loans Are There for That?
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Tag Archives: Current Value
Does Anyone Know Reduced Mortgages Starting October 1st?
Someone at work told me that the government is let mortgage companies reduce your monthly payments by only charging you the current value of your home now, not of what you paid for it in the past. Can someone send me a link to more info on this?
Why Aren’t the Mortgage Companies and Banks Resetting Home Loans to Current Value?
I was told that the mortgage companies and banks are going to reset (re-write) home loans starting on Oct 1st. Why are they waiting so long? If they re-set the loans now they will receive monthly payments and people will stay in their homes. If they continue to wait until oct 1st more people will be walking out on their homes cause they cant make the higher payments.
This same greed has caused the problem, the banks should take what they can now and not baggy more money.
Should I Refinance on My Home if It Is Currently Valued at Less Than the Original Selling Price?
My home has gone from appreciating to >$50,000 of its original value (around 2005-2006) to currently < $5,000 of its original value. Very frustrating, as you can presume. Does it make significance to re-finance on the current value of the home?
Is There a New Refinance Program That Forgives Negative Equity and Refinances the House at Current Value?
I heard about some new government loan where if your home has dropped in value, the government will absorb the depreciation and refinance your house at its current market value. I just bought my first house in August of 2008 for $275,000 which was a foreclosure and the other foreclosed homes surrounding me are now being offered in the $240,000 range. So in 4 months I’ve already lost around $35,000 in value.