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Mom Confessions Mom Confessions

How much more do you owe on your mortgage?

Posted by Anonymous   + Show Post
Is your home still worth more than what you paid for it? Home prices are creeping up again.
Posted by Anonymous on Jul. 31, 2013 at 3:05 PM
Replies (31-40):
Anonymous
by Anonymous on Jul. 31, 2013 at 3:27 PM
We're good on both houses. Gonna sit on them for a while and wait for everything to bounce back though.
TableforSeven
by Platinum Member on Jul. 31, 2013 at 3:27 PM

$0 -- we sold our house last year and are renting now

Anonymous
by Anonymous on Jul. 31, 2013 at 3:27 PM

my sister bought her house for $189,k,   it is worth double today and she took out 2 mortgages, ouch

SpnFulOfSugar
by Emerald Member on Jul. 31, 2013 at 3:28 PM
$0. It's paid off. It's worth more than we owe on it. It was a short sale foreclosure so we bought it for a bargain.
Anonymous
by Anonymous on Jul. 31, 2013 at 3:29 PM
I am an architect so I knew what I wanted! But we went around and looked at a few houses and just decided that building would be best for our family! There are a few options when building! Talking to a local contractor would be the best option to figure out how much things cost and what's a better option for you!


Quoting meg0620:

I want to build a house! Idk how all that works though. Lol. We're renting for now. But we want to build instead of buy.




Quoting Anonymous:

Building is the only way to go! I have my dream home for a lot less then what we would have paid for a brand new home that did not meet all of our expectations!!






Quoting Anonymous:

Same boat but our numbers aren't quite as high lol







Quoting Anonymous:

We built our house, paid about 350k$ and it was appraised at 575k! So we are definitely not underwater!



meg0620
by Gold Member on Jul. 31, 2013 at 3:32 PM
We would never be able to pay for that out of pocket, so do people still get loans even though they're building a house?


Quoting Anonymous:

I am an architect so I knew what I wanted! But we went around and looked at a few houses and just decided that building would be best for our family! There are a few options when building! Talking to a local contractor would be the best option to figure out how much things cost and what's a better option for you!




Quoting meg0620:

I want to build a house! Idk how all that works though. Lol. We're renting for now. But we want to build instead of buy.






Quoting Anonymous:

Building is the only way to go! I have my dream home for a lot less then what we would have paid for a brand new home that did not meet all of our expectations!!








Quoting Anonymous:

Same boat but our numbers aren't quite as high lol









Quoting Anonymous:

We built our house, paid about 350k$ and it was appraised at 575k! So we are definitely not underwater!




Hanaas_mommy
by Member on Jul. 31, 2013 at 3:34 PM

 we owe about 150,000.00 on our home. If we wanted to sell we could make money on it.

Anonymous
by Anonymous on Jul. 31, 2013 at 3:35 PM

we owe a lot on our house....we moved into it 6 months ago.

Anonymous
by Anonymous on Jul. 31, 2013 at 3:35 PM

We just refinanced for 125k. Our house is worth 133k. 

Anonymous
by Anonymous on Jul. 31, 2013 at 3:36 PM
Yes, you would still get a pre approval for a loan from the bank! Then your architect would design a house then you take it back to the bank for the approval! It's not a typical mortgage in one lump sum, they give out money in installments and you must provide photos and recipes of progress before they give you more money! It sounds like an intense process but it is so much more rewarding knowing it is exactly what you want! :)


Quoting meg0620:

We would never be able to pay for that out of pocket, so do people still get loans even though they're building a house?




Quoting Anonymous:

I am an architect so I knew what I wanted! But we went around and looked at a few houses and just decided that building would be best for our family! There are a few options when building! Talking to a local contractor would be the best option to figure out how much things cost and what's a better option for you!






Quoting meg0620:

I want to build a house! Idk how all that works though. Lol. We're renting for now. But we want to build instead of buy.








Quoting Anonymous:

Building is the only way to go! I have my dream home for a lot less then what we would have paid for a brand new home that did not meet all of our expectations!!










Quoting Anonymous:

Same boat but our numbers aren't quite as high lol











Quoting Anonymous:

We built our house, paid about 350k$ and it was appraised at 575k! So we are definitely not underwater!





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