Previously I was considering bankruptcy, but now I'm considering selling my house. My fiancee has left, I have $50k in CC debt, student loans, and a mortgage that is under water by $15-25K. Renting it out will only cover 2/3 of the mortgage/taxes/ins., and nowhere to live. I'm thinking about selling it, but what happens if I sell for less than I owe? Also, I'd be responsible for the realtor's fee (4-6%= appx. $20-25K). Add those together, and it's 30k to 50k to SELL my house and get out from under the mortgage. What happens to the balance that I would owe? Thanks!
posted by antipode12 on Dec 21, 2009 - 25 answers

Caught between a potentially troublesome mortgage and a bad job. How should I proceed? [more inside]
posted by anonymous on Dec 1, 2009 - 6 answers

I'm looking to buy a home, am I ready to finance this? [more inside]
posted by anonymous on Nov 29, 2009 - 15 answers

How much is reasonable (if anything) to pay to a lender for a mortgage application fee? [more inside]
posted by mockjovial on Oct 22, 2009 - 15 answers

Use cash to start a business or for a down payment on a home. [more inside]
posted by mintchip on Sep 1, 2009 - 10 answers

I've got some doubts about our current SoCal real estate agent. At first, there didn't seem to be a problem. But recent events have made me wonder if we're wasting his time. [more inside]
posted by anonymous on Aug 8, 2009 - 15 answers

My fiancee and I recently applied for a mortgage on a $200k property in Portland, OR. We have a lot of assets (at least I think so), but were denied for a mortgage loan where we would have put 20% down. Why, and what can we do about it? [more inside]
posted by anonymous on Jul 5, 2009 - 18 answers

What are my options for borrowing money for home improvement? [more inside]
posted by anonymous on Apr 20, 2009 - 8 answers

Buying a house soon: is it better to pay down my credit card partially, or pay off a small personal loan? [more inside]
posted by anonymous on Apr 3, 2009 - 5 answers

What are the best ways to find and compare mortgage refi rates and fees? (web sites, or?) [more inside]
posted by msalt on Jan 17, 2009 - 10 answers

Is it insane to buy a house in this market? [more inside]
posted by OmieWise on Dec 30, 2008 - 17 answers

We're refinancing our home mortgage and want to know if you think we should jump now or wait, considering recent news about mortgage rates dropping further based on supposed guarantees by Freddie and Fannie. [more inside]
posted by terrier319 on Dec 4, 2008 - 4 answers

How late is too late to negotiate with mortgage broker for fees? And how can I track mortgage interest rates to get a better rate before closing? [more inside]
posted by Amizu on Sep 19, 2008 - 5 answers

What happens to your credit after walking out of your house? [more inside]
posted by anonymous on Sep 2, 2008 - 15 answers

My mortgage payments are overdue and I have filed paperwork for a loan modification. I just accepted an offer on the condo, and it is due to close on June 26. What is the best way to get clear with the mortgage company before closing? [more inside]
posted by hamster on Apr 30, 2008 - 5 answers

So we close on our house tomorrow... [more inside]
posted by ian1977 on Apr 13, 2008 - 16 answers

How much should one expect to pay for fees on a mortgage refinance? [more inside]
posted by 6:1 on Apr 1, 2008 - 8 answers

Assuming that the feds are indeed going to cut rates significantly at the end of this month, should my mom wait until after that to refinance her home mortgage? [more inside]
posted by robotdog on Jan 16, 2008 - 12 answers

What options are available to two individuals who co-own a house and one wishes to buy the other one out? [more inside]
posted by J-Garr on Jan 11, 2008 - 7 answers

How and when do I "shop" a mortgage? (first-time buyer questions inside) [more inside]
posted by escher on Jan 2, 2008 - 12 answers

My mortgage lender sent an offer in the mail that I could change from monthly payments to payments every two weeks. This would be good for me, bad for them. Why? [more inside]
posted by poppo on Aug 17, 2007 - 21 answers

Mortgage Filter: My wife and I are looking for homes in the greater DC area and found what we think might be one of the best mortgage deals in the country. Of course, you can imagine that we are incredibly skeptical. More after the jump. [more inside]
posted by roundrock on May 6, 2007 - 4 answers

What questions do I ask when trying to get a mortgage? [more inside]
posted by echo0720 on Mar 14, 2007 - 10 answers

If 2nd Mortgage gets discharged in bankruptcy, can payment still be made to keep home? [more inside]
posted by swiffa on Jan 7, 2007 - 4 answers

When you made the jump from paying the rent to paying a mortgage, what was the ratio? [more inside]
posted by woj on Oct 6, 2006 - 36 answers

How much will my father co-signing on a mortgage help me? [more inside]
posted by Scottk on Jun 27, 2006 - 10 answers

I'm looking for info on zero down physician home loans. [more inside]
posted by anonymous on Oct 24, 2005 - 9 answers

I have about 75K left on a long term mortgage at about 6.5%. Recently a credit card I have with a large credit limit (20K+) sent checks that could be used for full amount of credit @ 1.9% fixed for the life of the loan. Should I use this to pay off some of the mortgage at a lower interest rate? I know I can make the min payments, are there dangers or problems I'm not considering?
posted by samoa on Oct 9, 2005 - 17 answers

Is the US Bank "Equity Accelerator" program really as good as it sounds? Are there any downsides or risks that I should be aware of while considering this program that claims to pay off my mortgage 7 years early? [more inside]
posted by gus on Aug 8, 2005 - 11 answers

How do I know if I am getting the best home loan available to me? [more inside]
posted by eggerspretty on Jun 29, 2005 - 9 answers

So yesterday my wife — Ms. We're-Not-Moving — found a house closer to Portland that she loves. We both love it. The only offer we can make, though, is contingent upon selling our home, which we hadn't even considered until yesterday. Help! Does anyone have experience with this kind of thing? What can we do to make a contingency offer more attractive? What about bridge loans? Anyone have experience with those? I need advice on hurried real estate transactions (other than "don't do them").
posted by jdroth on May 6, 2004 - 10 answers

Anyone tried 80-10-10 financing? Care to share any thoughts? My wife and I are looking at buying our first house and haven't been able to find many testimonials on google or fool.com.
posted by jragon on Jan 19, 2004 - 6 answers