Profile picture for mrbbrantley

why am i paying to much for my home

i am buying my home from glendon lambert of dumas arkansas he is the owner of lambert & lambert investors, inc located at 365 bottoms road in dumas arkansas mr lamberts phone# 870-382-3123 and i am buying my home at 203 south 3rd street mcgehee arkansas and i found out on zillow.com that the value of my home is $24,900 and i would like to know how mr glendon lambert came up with $49,500 for my home that i'm buying .i feel like i'm getting ripped off because the $49,500 does not include the finance charge that was finance through mr lambert. and every 2 years he refinance my home again which caused me to pay more finance charge again which i don't thank its right . i think we should only have to finance 1 time only . my house payment is $428.11 a month and $358.00 of it is my finance charge which tells me that i am only paying $70.00 a month payment on my house which i don't think is right at all .so i need someone to give me a advice here because something not right about the amount i'm paying on my home and the finance charge being refinance every 2 years please help me



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January 10 2013 - US
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Answers (1)

Profile picture for wetdawgs
You are paying what you agreed to pay on your home because when you purchased it more than 2 years ago you thought it was worth that amount.   Did you get an appraisal from an outside appraiser at that time?  Did you get a home inspection from a third party inspector?

Zestimates are not home appraisals and don't have the advantage of seeing the home and the home's condition.  The current Zestimate for your home is about 45K, but there is a lot of missing data so the 70% range is $27K – $90K.

If you are not happy with the financing you arranged, perhaps you could get financing from another company.
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