Zillow Advice RSS: Question-Discussion-Guide,Zillow Questions,NJ http://www.zillow.com/advice/NJ/zillow-questions/question-discussion-guide/mortgage/?s=0 Zillow Advice search results | Zillow Real Estate what will happen in a shortsale to the home owner http://www.zillow.com/advice-thread/what-will-happen-in-a-shortsale-to-the-home-owner/360747/ A homeowner that short sells a home will be unable to buy another home for a minimum of two years (if not more).<br/><br/>They may also owe to their lender the difference between the sale price and the mortgage - unless that is negotiated with their lender.<br/><br/>And in some situations, they may be liable for capital gains on the money that is forgiven by the bank.<br/><br/>If you have a more specific question, please repost your question.<br \><br \>0 replies Wed, 04 Aug 2010 16:07:00 GMT http://www.zillow.com/advice-thread/what-will-happen-in-a-shortsale-to-the-home-owner/360747/ 2010-08-04T16:07:00Z How do I find Tax info on Homes http://www.zillow.com/advice-thread/How-do-I-find-Tax-info-on-Homes/347556/ Go to the official IRS website and in the search box type the words <br/>mortgage interest.&nbsp; This should get you started.&nbsp; Also, be sure to contact your accountant or tax preparer before making any financial decisions regarding <br/>real estate purchases. Good luck.<br \><br \>0 replies Wed, 28 Apr 2010 13:49:00 GMT http://www.zillow.com/advice-thread/How-do-I-find-Tax-info-on-Homes/347556/ 2010-04-28T13:49:00Z whats the process of buying a house in US for an indian citizen and resident? http://www.zillow.com/advice-thread/whats-the-process-of-buying-a-house-in-US-for-an-indian-citizen-and-resident/310310/ <strong>&nbsp;Same as anyone else. however where you may run into difficulty is in obtaining a mortgage as your credit history may not be sufficient. Only a mortgage rep or a bank can answer that question.<br/>If you are looking in my neck of the woods ( Bergen, Passaic &amp; Essex counties) drop me a&nbsp; lime and I will be happy to assist<br/><br/><a href="mailto:Progers@Weichert.com" rel="nofollow">Progers@Weichert.com</a></strong><br \><br \>0 replies Wed, 30 Dec 2009 22:29:00 GMT http://www.zillow.com/advice-thread/whats-the-process-of-buying-a-house-in-US-for-an-indian-citizen-and-resident/310310/ 2009-12-30T22:29:00Z You have the location of my house listed incorrectly. How do I correct this? http://www.zillow.com/advice-thread/You-have-the-location-of-my-house-listed-incorrectly-How-do-I-correct-this/426907/ Can't seem to find any instrutions that are correct.&nbsp; Some say to post this for sale first, others say go to my favorite homes and drag an icon that doesn't exist.&nbsp; This site blows.&nbsp; Awful layout and zero help.<br/><br/>If anyone knows the real instructions on how to move, please just post them in a reply.<br/><br/>And yes the <a href="http://www.zillow.com/directory/lenders/">mortgage brokers</a> at Wells Fargo and BOFA did both lookup on zillow and yahoo <a href="http://www.zillow.com/mortgage-rates/">mortgages</a>, which gets its incorrect info from Zillow, and I had to convince them my home wasn't where it was and these guys were wrong.&nbsp; They were trying to tell me it wasn't worth doing since the home estimate was wrong.&nbsp; Lazy brokers I know but still they'll always take the easy way out instead of doing their jobs<br \><br \>0 replies Wed, 28 Dec 2011 20:04:00 GMT http://www.zillow.com/advice-thread/You-have-the-location-of-my-house-listed-incorrectly-How-do-I-correct-this/426907/ 2011-12-28T20:04:00Z what is a Short Sale? http://www.zillow.com/advice-thread/what-is-a-Short-Sale/274036/ The most simple answer is that a Short Sale occurs when a homeowner's <strong>mortgage company allows the home to be sold for less than what is owed on the mortgage note</strong>.&nbsp;This is happening quite frequently lately, since the decline in collective <a href="http://www.zillow.com/home-equity-loan/">home equity</a> coupled with the weak economy and in particular job losses, has many homeowners unable to pay their <a href="http://www.zillow.com/mortgage/">mortgages</a>. However one cannot do a short sale just because of reduced equity; there must be a documented financial distress. &nbsp;If you visit activerain.com or google you will find a wealth of information on short sales.A short sale often allows the homeowner to save their credit from the total ruin of a foreclosure, but action must be taken before any impending Sheriff's sale. The <strong>homeowner does need the permission of the <a href="http://www.zillow.com/directory/lenders/">mortgage company</a> to complete a short sale, so this makes the process sometimes long and arduous...but not always -- depends on the bank/servicing company.&nbsp;</strong> Generally the best course of action&nbsp;if one finds oneself in a situation where he can no longer pay his mortgage, is to <strong>first&nbsp;try to talk to the mortgage company</strong>, (which may or may not be helpful) then&nbsp;<strong>also</strong> talk to a disinterested third party such as a certified credit counselor (find a FREE counselor)&nbsp;or call a Realtor&nbsp;and &nbsp;an <strong>attorney well-versed in such matters</strong>.<br/>Best wishes,<br/>Kim Thomas<br \><br \>0 replies Mon, 31 Aug 2009 20:36:00 GMT http://www.zillow.com/advice-thread/what-is-a-Short-Sale/274036/ 2009-08-31T20:36:00Z How can zillow put in the correct info on my home http://www.zillow.com/advice-thread/How-can-zillow-put-in-the-correct-info-on-my-home/471432/ Zillow data is not used by bank or mortgage appraisers, so I wouldn't worry about it. &nbsp;The industry knows Zillow is inaccurate.<br \><br \>0 replies Mon, 17 Dec 2012 14:43:00 GMT http://www.zillow.com/advice-thread/How-can-zillow-put-in-the-correct-info-on-my-home/471432/ 2012-12-17T14:43:00Z Zillow Value changes in direct proportion to Mortgage http://www.zillow.com/advice-thread/Zillow-Value-changes-in-direct-proportion-to-Mortgage/444952/ Can anyone please explain how the value of&nbsp;the&nbsp;homes in my neighborhood have not changed&nbsp;dramatically, but the value of my home is dropping drastically in proportion the amount of&nbsp;principle&nbsp;reduction&nbsp;in my&nbsp;mortgage? It seems to me as though Zillow is attempting to keep me "underwater" even as I pay down thousands in principle every month.<br \><br \>0 replies Thu, 31 May 2012 15:03:00 GMT http://www.zillow.com/advice-thread/Zillow-Value-changes-in-direct-proportion-to-Mortgage/444952/ 2012-05-31T15:03:00Z What can I do to get more (or better) quotes for my loan request ZR-CQDJVKX http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-CQDJVKX/334566/ Have your <a href="http://www.zillow.com/mortgage/">loan</a> guy sign up. I'm sure he could provide advice to all those looking for info on <a href="http://www.zillow.com/mortgage/">mortgages</a>. It would certainly free you up to provide info on the <a href="http://www.zillow.com/learnmore/what-zillow-offers-sellers.htm">Real Estate sales</a> threads.<br \><br \>0 replies Sat, 20 Mar 2010 18:21:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-CQDJVKX/334566/ 2010-03-20T18:21:00Z I want to find financing for short sale home what type of financing should I look and ask for? http://www.zillow.com/advice-thread/I-want-to-find-financing-for-short-sale-home-what-type-of-financing-should-I-look-and-ask-for/432149/ <p>Before you begin searching for a home you should sit down a mortgage loan originator, and have them review you income, assets, and credit.&nbsp; They should be able to determine which programs you can qualify for and explain the pros and cons of each program.<br/><br/>Then you can go out and find a property that fits into your qualifications and fiance the property&nbsp;under that particular mortgage program.<br/><br/>Good Luck</p><br \><br \>0 replies Fri, 17 Feb 2012 15:05:00 GMT http://www.zillow.com/advice-thread/I-want-to-find-financing-for-short-sale-home-what-type-of-financing-should-I-look-and-ask-for/432149/ 2012-02-17T15:05:00Z How do I correct a factual error in my home's price history? http://www.zillow.com/advice-thread/How-do-I-correct-a-factual-error-in-my-home%27s-price-history/392672/ <p>I refinanced and paid down my primary mortgage a bit, but Zillow has it as a resale for a $100k loss!</p><br \><br \>1 reply Mon, 28 Mar 2011 19:50:00 GMT http://www.zillow.com/advice-thread/How-do-I-correct-a-factual-error-in-my-home%27s-price-history/392672/ 2011-03-28T19:50:00Z I did not get any quotes on my loan request (ZR-GBNHVKS). Can someone help me figure out why? http://www.zillow.com/advice-thread/I-did-not-get-any-quotes-on-my-loan-request-ZR-GBNHVKS-Can-someone-help-me-figure-out-why/319340/ ZR:<br/><br/>You should get a quote on your loan request. You may wish to look at getting&nbsp; another mortgage company that will give you a quote.<br/><br/>Second call your lendor as ask them why you did not get a quote.. There may be someting on your application not completed.&nbsp; <br/><br \><br \>0 replies Thu, 28 Jan 2010 15:44:00 GMT http://www.zillow.com/advice-thread/I-did-not-get-any-quotes-on-my-loan-request-ZR-GBNHVKS-Can-someone-help-me-figure-out-why/319340/ 2010-01-28T15:44:00Z what is a short sale? http://www.zillow.com/advice-thread/what-is-a-short-sale/565624/ a short sale is when the seller owes more money on the mortgage than what the home can bring on the current market. Therefore they are "short" a certain amount of money at the closing. Although the seller still owns the property, the bank has the final say on the total dollar amount paid for the property. These transactions can be tricky and can often take longer than a standard sale. Be sure to ask your agent if they are trained in short sales. Ask if they have successfully closed any. Good luck with your home purchase.<br \><br \>0 replies Thu, 06 Nov 2014 21:58:00 GMT http://www.zillow.com/advice-thread/what-is-a-short-sale/565624/ 2014-11-06T21:58:00Z Parsippany (Morris Plains) NJ Mountain Club. Can someone suggest a bank that will offer a mortgage http://www.zillow.com/advice-thread/Parsippany-Morris-Plains-NJ-Mountain-Club-Can-someone-suggest-a-bank-that-will-offer-a-mortgage/487541/ 2467 Rt 10, Morris Plains, NJ.&nbsp; Running into problem get a mortgage due to condo's existing litigation and significant % of unpaid HOA dues?&nbsp; Any suggestions?&nbsp; Thanks!<br \><br \>0 replies Fri, 12 Apr 2013 00:00:00 GMT http://www.zillow.com/advice-thread/Parsippany-Morris-Plains-NJ-Mountain-Club-Can-someone-suggest-a-bank-that-will-offer-a-mortgage/487541/ 2013-04-12T00:00:00Z I did not get any quotes on my loan request (ZR-QFFNZBZ). Can someone help me figure out why? http://www.zillow.com/advice-thread/I-did-not-get-any-quotes-on-my-loan-request-ZR-QFFNZBZ-Can-someone-help-me-figure-out-why/314399/ Dear Slipity<br/>When you say quotes on a loan request do you mean you asked for this on the internet? or did you speak to someone?<br/>It's great to see that you want to take advantage of the tax credit as a first time home buyer.<br/>While you can do alot of research on line about everything it is always best to speak with someone on the phone or face to face. The <a href="http://www.zillow.com/mortgage/">mortgage</a> money and <a href="http://www.zillow.com/Mortgage_Rates/">interest rates</a> depend upon your credit worthiness. Right now great credit scores are very important. Also how much of a down payment&nbsp; you have can affect your interest rates. <br/>An <a href="http://www.zillow.com/fha-loan/">fha loan</a> is excellent for those who have minimal amount of money&nbsp;for a down payment and must have at least a minimum of 3.5%&nbsp;of the purchase price.<br/>You must have separate money for home inspections and sometimes money for an appraisal. Closing costs can sometimes be included in the loan or you can get a seller's concession to cover the closing costs.<br/>This is a brief overview. You are best to talk to a mortgage person and have them get into it in detail with you as to what YOU can do financially.<br/>Ask your family and friends who they had to do their loans and call and speak with them. Short of that I will be glad to give you some names of mortgage people I deal with. <br/>Hope this helps. and feel free to ask me any other questions that come up.<br \><br \>0 replies Wed, 13 Jan 2010 21:04:00 GMT http://www.zillow.com/advice-thread/I-did-not-get-any-quotes-on-my-loan-request-ZR-QFFNZBZ-Can-someone-help-me-figure-out-why/314399/ 2010-01-13T21:04:00Z First time potential buyer seeking advice http://www.zillow.com/advice-thread/First-time-potential-buyer-seeking-advice/374249/ Hello,<br/><br/>I can honestly say i have no idea where to start. hence why i am here. I have been interested in purchasing a home for myself for some time now, and have the income to be able to handle a mortgage. My income is 40000 a year, and i would be looking into a low down payment mortgage. Where and how do i start this process? and what might be the best options for me?<br \><br \>22 replies Mon, 08 Nov 2010 23:29:00 GMT http://www.zillow.com/advice-thread/First-time-potential-buyer-seeking-advice/374249/ 2010-11-08T23:29:00Z What can I do to get more (or better) quotes for my loan request ZR-DYDTMMG http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-DYDTMMG/335451/ I know you do. He's welcome to post on Zillow like any other <a href="http://www.zillow.com/directory/lenders/">lender</a>. He might be better qualified to address <a href="http://www.zillow.com/mortgage/">mortgage</a> questions.<br \><br \>0 replies Sat, 20 Mar 2010 18:18:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-DYDTMMG/335451/ 2010-03-20T18:18:00Z What can I do to get more (or better) quotes for my loan request ZR-MQJYVNS http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-MQJYVNS/376195/ hi,<br/><br/>I am little short on cash for down payment and may not be able to get any outside help. With excellent credit score and proof of income, I need to know minimum cash I need in my bank account to get pre-approval for conventional mortgage loan. <br/>home cost of about 500k,&nbsp; <br/>10% down payment, i.e. 50K, <br/>estimated closing cost of 15k (including 5K prepaid costs paid by myself and rest by seller)<br/><br/>Thanks for advance for any advice.<br/><br/>Vineet<br \><br \>2 replies Sun, 28 Nov 2010 13:51:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-MQJYVNS/376195/ 2010-11-28T13:51:00Z what does pending mean? http://www.zillow.com/advice-thread/what-does-pending-mean/428095/ <p>Hello:<br/><br/>It means the house is under contract meaning it is out of the three day attorney review period. It is pending because it depends on appraisal, inspections and most importantly mortgage.</p><br \><br \>0 replies Mon, 09 Jan 2012 12:52:00 GMT http://www.zillow.com/advice-thread/what-does-pending-mean/428095/ 2012-01-09T12:52:00Z What can your current landlord say about you http://www.zillow.com/advice-thread/What-can-your-current-landlord-say-about-you/451473/ My current management company lied to my mortgage company and said that I was late 23 times which is a bold face lie, can I sue them for slandering my families name. &nbsp;Please inform<br \><br \>1 reply Wed, 18 Jul 2012 10:19:00 GMT http://www.zillow.com/advice-thread/What-can-your-current-landlord-say-about-you/451473/ 2012-07-18T10:19:00Z How do I bid on a short sale? My realtor has "advised" me to bid asking price. Is this normal? http://www.zillow.com/advice-thread/How-do-I-bid-on-a-short-sale-My-realtor-has-advised-me-to-bid-asking-price-Is-this-normal/346713/ All of this is good advise you have received so far.&nbsp; If the listing agent has done his homework he or she should have in writing what the bank is willing to take.&nbsp; In most cases&nbsp; once an offer comes in then it is sent to bank viva the lawyer or the owner; then you need to wait for a response. This can take awhile because most banks will want an appraisal.&nbsp; However I always have gotten the bank to the appraisal right away, right in the beginning of the listing. You should ask for a copy of the bank appraisal and offer that amount. If they do not have it ask if they had discussed this with the bank yet? If they have not talked to the bank,&nbsp; ask if they are still&nbsp; are still paying their mortgage. If the answer is yes most banks will not do a short sale.&nbsp; I hope this helps,<br \><br \>0 replies Sun, 09 May 2010 18:22:00 GMT http://www.zillow.com/advice-thread/How-do-I-bid-on-a-short-sale-My-realtor-has-advised-me-to-bid-asking-price-Is-this-normal/346713/ 2010-05-09T18:22:00Z