Americans Shut Out of Housing as FHA Fees Jump: Mortgage

[Sunalmighty]

I bought my property at 112k and I owe 108. Had it reappraised for a HELOC which I ended up declining. Valued at 230k. Should I sell it or keep it

 

[Domingo Halliburton]

I bought my property at 112k and I owe 108. Had it reappraised for a HELOC which I ended up declining. Valued at 230k. Should I sell it or keep it

its up to you man looks like you're sitting on 120k in equity. Another real estate broker or bank may ask for their own appraisal though.

i dont know how much you want to share but someone who represents you for the sale is going to have to see the current terms and rates of your mortgage

 

[Sunalmighty]

its up to you man looks like you're sitting on 120k in equity. Another real estate broker or bank may ask for their own appraisal though.

i dont know how much you want to share but someone who represents you for the sale is going to have to see the current terms and rates of your mortgage

Yea wells Fargo did the reappraisal. I'm thinking of keeping it though. Or sell and get a duplex or triplex. That's where my mind is. Upgrading

 

[Crakface]

Damn cacs goin broke.

 

[Domingo Halliburton]

Yea wells Fargo did the reappraisal. I'm thinking of keeping it though. Or sell and get a duplex or triplex. That's where my mind is. Upgrading

let me get it straight you trying to sell the place and buy another? Or buy another place in addition to your place?

 

[Sunalmighty]

let me get it straight you trying to sell the place and buy another? Or buy another place in addition to your place?

Sell my house and trade up to a duplex or a 3 plex

 

[DonFrancisco]

I bought my house back in 2009 and I was thinking about selling. I ain't selling shyt. I'm keeping my shyt. Why is housing stalling though? Is it that no one is buying or are people trying to buy and the qualifications are outrageous? I don't understand.

A myriad of different factors:

1. Bad credit due to the credit crunch

2. Too many houses were built and since income for the average American has stalled, they will not purchase a new home

3. Less marriages, that means less people will move to houses. Many might realize it is cheaper to rent an apartment

4. Sprawl. A lot Millennial don't want that Suburbia life.

5. Rises cost of living and the fact wages can't keep up with the rise. This means a rise in price to make homes, subsequently increasing the price of homes.