Profile picture for Cobrand Demo4

Ryan Beesley

XYZ Brokerage

Email: ryan@xyzbrokerage.com

Phone: (206) 555-1234

Website: www.xyzbrokerage.com

Back to Results

Tools

Partner Tools


home owner

Profile picture for hello tammie
close Profile picture for hello tammie

hello tammie

Contributions: 1

View full profile

I bought my home in 2005.  I think I've paid too much for the actual value of the home.  Is there anything I can do about decreasing the amount of the home? 

  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

Close
Content Flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0 Yes

May 13 2008 - US
RSS

Replies (10)

Profile picture for Carrie.
close Profile picture for Carrie.

Carrie.

Contributions: 1999

View full profile

HUH?

 The bank loaned you money based on what the value of the home was determined to be in 2005. They are not going to fogive you that money becuse the market has gone down.

  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

Close
Content Flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

1 Yes

May 13 2008
Profile picture for Carrie.
close Profile picture for Carrie.

Carrie.

Contributions: 1999

View full profile

*forgive*

  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

Close
Content Flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0 Yes

May 13 2008
Profile picture for mckylie
close Profile picture for mckylie

mckylie

Contributions: 5021
Zillow All-Star

Since September 2009

View full profile

I agree with Carrie's "HUH?"

  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

Close
Content Flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0 Yes

May 13 2008
Profile picture for Waiting4Ever
close Profile picture for Waiting4Ever

Waiting4Ever

Contributions: 683

View full profile

Can you afford the payments?

  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

Close
Content Flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0 Yes

May 13 2008
Profile picture for wetdawgs
close Profile picture for wetdawgs

wetdawgs

Contributions: 4105
Zillow All-Star

Since January 2009

View full profile

The value of the house is responsive to market demand.   It is possible (probable) that your house value has already decreased relative to the market peak.    However, can you decrease the amount of the mortgage and ask the bank to eat the difference (or the seller to give you money)?  Not likely.    You made a decision to buy at the price on the contract, and made a contract with the mortgage lender to pay back that amount.  

 

House purchases are  not like buying a pair of shoes and seeing them go on sale the next day, you can't get the difference back.

 

Yes, it is indeed painful and many people who bought at the peak are underwater.    Hopefully you can afford the payments and plan to be there for some time. 

  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

Close
Content Flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0 Yes

May 13 2008
Profile picture for dunmoved
close Profile picture for dunmoved

dunmoved

Contributions: 452

View full profile

Hey if you do let me know because I've got this car loan....

  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

Close
Content Flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0 Yes

May 13 2008
Profile picture for Carrie.
close Profile picture for Carrie.

Carrie.

Contributions: 1999

View full profile

LMAO dunmoved....me too

 

 

  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

Close
Content Flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0 Yes

May 13 2008
Profile picture for SoCal BubbleBrain
close Profile picture for SoCal BubbleBrain

SoCal BubbleBrain

Contributions: 5290

View full profile

Don't pay your mortgage. Wait for the government bailout. Your new mortgage secured by the fed will be based on 85% of the current value. Get with the program. If you are going to start back pedelling do it right.

  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

Close
Content Flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0 Yes

May 13 2008
Profile picture for nstarr
close Profile picture for nstarr

nstarr

Contributions: 179

View full profile

What bailout plan are you talking about?

  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

Close
Content Flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0 Yes

May 13 2008
Profile picture for Wells Fargo Mortgage
close Profile picture for Wells Fargo Mortgage

Jonathan Yokley, CMPS, "Wells Fargo Mortgage"

Mortgage Lender

Lender rating

5.0/5.0

View ratings and reviews

Contributions: 21

View full profile

Unfortunetely there is nothing you can do now....  The real estate market is very similar to the stock market, it has ups and downs....  It will drive you crazy if you take a look at the values every day.  The beautiful thing about a market is it always corrects itself- though somtime it takes time.

 

When you closed on your loan, you and the lender agreed to the value at the time based off the appraised value.... So right now you have a declining asset....  best thing is to wait and watch it pick back up (over the end of 2008 and through 2009 hopefully).....  

 

You won't have any real tangible effects unless you have to sell the home and "bail out".... then you will have to take the loss.

  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

Close
Content Flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

1 Yes

May 13 2008
 

Have a question? Ask it here.

What's this?
Close

By starting a discussion, you can expect more of an interactive, back-and-forth experience where the conversation can go in many different directions.

Or start a discussion

 
Most Active Real Estate Agents
Subscribe via RSS
  1. Profile picture for Conlon A Real Estate Conlon A Real Estate
    435 listings
    Local Expert
  2. Profile picture for AdamShpritz AdamShpritz
    297 listings
    Local Expert
  3. Profile picture for Geni Manning GRI CNH Geni Manning CRS, ABR
    219 listings
    Local Expert
  4. Profile picture for DANIELLE HARRELL DANIELLE HARRELL
    179 listings
    Local Expert
  5. Profile picture for Chris Cooke Chris Cooke
    143 listings
    Local Expert

See more real estate agents

Related Discussions
Profile picture for dlcoops
Discussion Can I get Zillow to change their zestimate?
  • Last reply by dlcoops
  • 1 hour 4 minutes ago
Profile picture for CrystalLake06029
Discussion Zestimate is raising questions with buyers of my property - estimate doesn't make sense
  • Last reply by CrystalLake06029
  • 3 hours ago
Profile picture for fleming4p
Discussion Alabama Attorneys
  • Posted by fleming4p
  • 9 hours ago
Profile picture for helleneric9
Discussion Wisconsin Family Law Attorney
  • Posted by helleneric9
  • 11 hours ago
Profile picture for wetdawgs
Discussion If a family sells a home as an estate sell and divide the proceeds, do they have to pay taxes on it?
  • Last reply by wetdawgs
  • 13 hours ago
Related Articles about Home Selling
Guide Photo Uploading Tips
Guide How to Pre-Market a Home
Guide Your Home Appraisal Whats the Big Deal?
  • In Pricing
  • Edited December 02 2008
Guide How To Stage A Home For Sale
  • In Staging
  • Edited December 02 2008
Guide How To Stage A Home
  • In Staging
  • Edited December 02 2008
Zillow Poll:
Suggested by MNelan04
Do soup kitchens in your neighborhood do more good or bad for the community?
Next poll
Suggest a poll
Be A Good Neighbor

Zillow® Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy

© 2006-2008 Zillow.com, All Rights Reserved

pageName