Not exact matches
Finding Financing to Purchase Another Home and Relocate... the
house I live in is only
worth about $ 10,000 and my credit is only fair to poor... I've found some cheap homes in distant counties I can
afford... what are my options...
Emotionally, you want to believe that your
house in North Toronto is really
worth $ 900,000, not the $ 615,000 you could
afford to pay for it.
Underwater homeowners may now bitterly resent the monthly payment, but the great majority can
afford it just as easily as they could back when the
house was
worth more.
Ok, so just for fun I ran the numbers... assuming Zillow's overly optimistic numbers are correct, I took our net equity, kept the payment the same (which is optimistic since property taxes and insurance would go up on a bigger
house), calculated how much of a loan we could
afford, added the equity, and... we could get
house costing 1.5 % more than ours is currently
worth.
This is a step
worth taking, because it helps you narrow down your
house - hunting search to the properties you can actually
afford.
«Many owners in this industry don't have an exit strategy, because no one person can
afford to buy their business for what it's
worth,» says Nick Lalli, who for over 20 years has been an owner / partner of Century 21 Heritage
House, headquartered in Woodstock, Ont.
From people in foreclosure, going through a divorce, relocating and can't sell their
house, those who own a vacant
house they don't want to deal with anymore... to landlords tired of dealing with tenants, people who inherited a
house they don't want, good folks who lost their job and just can't
afford the payment anymore and can't
afford to pay a real estate agent their fees to sell it, to people who owe more on their
house than it's
worth and listing with an agent just isn't an option.
The worst kind of overpaying isn't paying more than what the
house is
worth, it's paying more than you can
afford.
The shady dealings that created the
housing bubble have made them unwitting victims who now can not
afford mortgages
worth twice as much as their home.