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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 (41-50):
907PickleMom
by Silver Member on Jul. 31, 2013 at 3:37 PM
The borough (county) appraises our home @ $130,000. We paid $117,000 last year and owe about $115,000
meg0620
by Gold Member on Jul. 31, 2013 at 3:38 PM
That sounds cool! I definitely want to build. I remember my dad made blueprints for a house he was going to get built and we were so excited and they ended up selling the land and just buying a house :( we were so disappointed.


Quoting Anonymous:

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!






Snakecharm
by Platinum Member on Jul. 31, 2013 at 3:41 PM
It was 321k when we bought it. I last got it appraised in 2009 for 365k... We owe 230k, so I think we're safe.
MommyAddie
by Gold Member on Jul. 31, 2013 at 3:48 PM
2 moms liked this
None!!!! Yay! We paid off our old house with inheritance money, sold it for a profit and bought our new house without debt! Smartest thing we ever did.
Posted on CafeMom Mobile
Mommy2ETnBM
by Silver Member on Jul. 31, 2013 at 4:19 PM

I owe about 65k on my house. If I sold it today, I could probably get around 95k for it. Maybe more if I did a few repairs.

Anonymous
by Anonymous on Jul. 31, 2013 at 4:21 PM
Nothing. I got really lucky. My great uncle gave me his home when he retired to Florida.
ryansmommy07
by Silver Member on Jul. 31, 2013 at 4:24 PM
We owe 60k it's valued at 95k
justpeachy71904
by peachy on Jul. 31, 2013 at 4:24 PM
We owe 78k

We paid 90

It is valued at two and a half what we paid
Pink.Frosting
by Platinum Member on Jul. 31, 2013 at 4:25 PM

No mortgage, we paid cash. 

idee
by Silver Member on Jul. 31, 2013 at 4:26 PM

 We own outright. And yes it is worth more.

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