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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 (81-90):
wooly
by Knitting Maniac on Jul. 31, 2013 at 5:27 PM

 Not much. We are halfway thru our mortgage. Our property values never went down the market just slowed down, so we are fine. We still have waaay more equity than when we bought it. In used to sell Real Estate and my dh made me do all the negotiating and so we had almost $30,000 in equity when we bought it, plus we put a substantial Down Payment on it. Then guy we bought from had listed it before and hadn't had any luck and son they pulled it off the market and painted and recarpeted everything and put in all  brand new appliances and then put it back on the market a lot cheaper & armed with that info I offered him a lot less than he had it listed for and they accepted it. I could tell by what had been done and by talking to them they just wanted to move and I took advantage of it!

Fields456
by Ruby Member on Jul. 31, 2013 at 5:31 PM

We owe like $83,000 ish.our house is worth more than we laid for it almost 6 years ago 

BrownEyedGirl86
by Silver Member on Jul. 31, 2013 at 5:34 PM
We just bought our house in April.
Anonymous
by Anonymous on Jul. 31, 2013 at 5:35 PM
We owe about $170,00. If we were to sell, we could list at about $240,000.
Anonymous
by Anonymous on Jul. 31, 2013 at 5:39 PM
I just can't imagine turning a $300Kish profit on a house, which is what you need to buy a house here.


Quoting MommyAddie:

Not really. Why?





We remodeled out first home, increasing its value, paid it off with a large inheritance, sold it for more money than we paid for it and had enough money to buy a beautiful home in a desirable neighborhood.




Quoting Anonymous:

Do you live in a cheap area or something??






Quoting MommyAddie:

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.


Anonymous
by Anonymous on Jul. 31, 2013 at 5:43 PM
We bought it for $365,000 5 years ago.
It appraises at $394,000 now.
We owe $290,000.
MommyAddie
by Gold Member on Jul. 31, 2013 at 5:52 PM
Not all of it was profit, we had a prior mortgage on which we had built equity and had put a down payment. It's not hard to buy a home with cash when you receive a check free and clear for selling a property you own outright.

What really impresses me is those people who scrimp and save to buy a home with no debt. My exhusband and I knew a family like that. But I wouldn't want to live the way they did in order to do that. The wife made excellent money as a medical examiner, he had a menial job and a paper route. The wife was alloted 3 sticks of deoderant a year, and stuff like that. She couldn't spend a dime. We went to Walmart once and she ALMOST bought a candle, but put it back because she didn't want to fight with her husband.


Quoting Anonymous:

I just can't imagine turning a $300Kish profit on a house, which is what you need to buy a house here.




Quoting MommyAddie:

Not really. Why?








We remodeled out first home, increasing its value, paid it off with a large inheritance, sold it for more money than we paid for it and had enough money to buy a beautiful home in a desirable neighborhood.






Quoting Anonymous:

Do you live in a cheap area or something??








Quoting MommyAddie:

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.


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Indy3000
by Bowchicabowow on Jul. 31, 2013 at 5:53 PM

Dang where do you live for it to be soo cheap?

Quoting kzuehlk:

We just paid our house off in full in January. We paid $20K and right now I think it is worth $65K


mom2the.rescue
by Gold Member on Jul. 31, 2013 at 5:54 PM

We owe $103,000 and it's been appraised for almost $300,000.  Yay!  Too bad we don't want to sell right now lol.

Anouck
by Silver Member on Jul. 31, 2013 at 5:55 PM

I'm completely underwater on my house, but I'm not stressing about it, because I have no intention of moving out any time soon anyway.

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