Sentences with phrase «house is worth less»

«Short sale condition» means that a case can be made to the bank that the house is worth less than what's owed.

How can you do that if your house is worth less than you owe on it?

-- Implications of a declining market: If the house is worth less than the mortgage balance when the couple split, which is likely if they purchased at the peak of the market in 2006, the options are grim.

If there is more tax on your house, your house is worth less.

(Please don't reply, «The house is worth less than I paid.»)

Since the house is worth less than the first mortgage, the second mortgage is unsecured by any equity.

If you can show your house is worth less than the principal balance of the primary mortgage, any junior mortgage or home equity line can be stripped.

The question is, in the event the house is worth less than the mortgage at the time of death or sale, is the forgiven amount taxable under the reverse mortgage rules?

Because the house is worth less than is owed on the first mortgage, the second mortgage may be stripped off in a Chapter 13 bankruptcy.

The financial affliction of negative homeowners» equity, in which the house is worth less than the mortgage due, is fast fading.

Not exact matches

So buyers need to be comfortable knowing their houses might not increase in value over the next few years — and also that they could be worth much less.

Remember the bank bail outs when people realized that simply walking away from their home loans were far easier than continuing to pay a mortgage on a house that was worth far less than they owed for it?

That means if prices go down by only 3 %, the house will be in negative equity and it would pay the homeowner just to walk away and say, «The house now is worth less than the mortgage I owe.

It is worth noting that the 12 states holding contests, Alabama, Alaska, Arkansas, Colorado, Georgia, Massachusetts, Minnesota, Oklahoma, Tennessee, Texas, Vermont and Virginia, were not only less affected by the housing crisis, but have stronger housing markets today than most other states in the nation.

But a quarter of U.S. real estate already is in negative equity — worth less than the mortgages attached to it — and the property market is still shrinking, so banks are not lending except with public Federal Housing Administration guarantees to cover whatever losses they may suffer.

I found it at Walmart for $ 1.00 per block and used 5 blocks, but you are serving a house full worth of guests off of an appetizer that costs less than $ 10 — plus, you get bragging rights to having created this masterpiece all by yourself!

I'm not sure if that makes it more or less likely to make it, but I'm hoping that piece of it is worth enough someday to cover for pushing all my retirement savings into a house fund.

The all - party parliamentary group on housing and care for older people said the answer was to exempt them from stamp duty on homes worth # 250,000 or less.

McCoy predicted housing prices will plummet across the state if the deduction for mortgage interest is capped at houses worth less than $ 500,000.

Over the past 5 years science funding has been kept at the same cash level, so is worth 6 % less today than in 2010 because of inflation, pointed out Nicola Blackwood, chair of the Science and Technology Committee in the House of Commons.

Elsewhere, Vennett approaches crass, brilliant hedge fund manager Mark Baum (Steve Carell in a slightly less awful wig), convincing him and his fiercely loyal, very skeptical staff (outstanding turns by Rafe Spall, Hamish Linklater and especially Jeremy Strong) that the subprime housing market is so unstable that it is worth investing billions in.

For what it's worth, it costs more than an Audi S8 Plus and Porsche Panamera but slightly less than a Bentley Flying Spur or Mercedes S65, but in all cases we're talking the sort of prices that would buy you a small house.

The house has to be safe, sanitary and «modest in size, design, and cost» and can not be worth more or less than the price you are paying.

If you pay less than what a house is worth, you accumulate what is called positive credit — a good thing.

«If mortgage rates do go up, there's a chance your house will be worth less, so seriously consider cashing in and selling in 2015,» advises Ted Rechtshaffen, president and CEO at TriDelta Financial.

If you have to carry two mortgages for three or four months, you'll be motivated to accept less than your house may be worth.

Speaking at an event held by Women in Housing and Finance, FHA commissioner David Stevens said that «[Mortgage] servicers and lenders have got to start writing down principal» for homeowners whose homes are worth less than their mortgage loan balances.

But cash - out refinancing also has one major downfall: By binding your unsecured debts to your home, you've compromised your home's equity and have a higher risk of going «underwater» — having a house that is worth less than you owe the bank.

For better or worse, most of my net worth is equity in our house (lower return but less volatile than stocks — a bond substitute?).

Their houses are still worth less than the mortgage on them.

If the value of that house fell by 20 % it would be worth $ 600,000, or $ 50,000 less than what you originally borrowed to buy the home.

If you already own the property on which you want to build your house that counts as equity as far as the bank is concerned (although in most areas property is worth less than owners like to think).

The fall in home prices during the housing crisis left many homeowners in a negative equity situation (where their home was worth less than the mortgage on the property).

However, you may be liable for these taxes on a house worth less than the limit if the combined value of all the original owner's assets — including not only the house but also hard cash and investments — exceeds $ 5.49 million.

The small upside is that if your house has dropped in value and is worth less than your reverse mortgage balance, you do not have to cover the shortfall.

First, obviously, the house has to be worth a lot less than the outstanding mortgage balance.

They put nothing down on the home, took out a loan that let them pay less than they owed each month and now their loan is $ 200,000 more than the house is worth.

I have an FHA loan on my house and I currently owe about $ 12,000 less than it is worth

And it isn't because houses are so wonderful it's because the dollar becomes worth less that a house that was bought 40 years ago is worth more today than it was then.

If a borrower defaults on a mortgage worth less than the house then the bank can foreclose and be made whole.

Pretty much any house purchased in the last 5 years in the Downriver area of Michigan where our office is located (Taylor, Southgate, Allen Park, etc.) is now worth less than the purchase price.

I bet anyone who bought a house or refinanced within the last decade likely has a house worth less than what is owed.

Bernie Madoff of the $ 50 billion Ponzi scheme ought to qualify, as well as the hordes of Americans who have walked away from their houses when they turned out to be worth less than their mortgages.

The house is worth about $ 60,000 less that he owes on it with two separe loans, by the same lender.

Couple this with the fact that we owe less on our house with each mortgage payment, and the house has been the biggest contributor to our net worth increase since the uptick started.

The real estate market took a dip in 2006, so those repossessed houses were suddenly worth a lot less.

Having to try to sell a house that is worth less than the borrower owes on it, especially in a market with declining values and longer market times could spell huge losses for the lender.

We are also considering taking out a higher loan than we need against the house due to lower interest rate and pay that towards the student loan, especially since we bought a foreclosure and have been paying it down faster than min payments and therefore owe quite less than what it is worth.

But in 30 years time that house will now be worth less than the brand new one next door.

Nonetheless, it might be worth your while to consider how much you might be able to sell your house for and how much less you could buy another house for.