Zillow Advice RSS: Question-Discussion-Guide,Home Selling, http://www.zillow.com/advice/United-States%253B%253B%253B%253B%253B%253B%253B%253B/home-selling/question-discussion-guide/mortgage/?s=0 Zillow Advice search results | Zillow Real Estate Is it too soon to sell our house? http://www.zillow.com/advice-thread/Is-it-too-soon-to-sell-our-house/522836/ The simple answer is no, it is not too soon, as far as getting financing goes anyways.<br/><br/>The only thing I can think of that may be an issue would be taxes, primarily the gain you realize on the sale and how it is taxed. I would contact a tax professional but I can tell you that you may not have lived in your current home as a primary residence for long enough to avoid paying capital gains on the profit. <br/><br/>That may or may not be an issue though. And even if you have to pay capital gains it may be a very small amount and that may also outweigh the downside of waiting.&nbsp;<br/><br/>I hope that helps a little bit. If you qualify for the new loan there is nothing to the fact that you bought your home just over a year ago that a mortgage company will care about as long as you sell it before you close on the new home (or concurrently). Paying a capital gain tax is the only thing I can think of that MAY be an issue for you.&nbsp;<br/><br/>Sincerely,<br/>Greg<br \><br \>0 replies Mon, 30 Dec 2013 21:10:00 GMT http://www.zillow.com/advice-thread/Is-it-too-soon-to-sell-our-house/522836/ 2013-12-30T21:10:00Z What information do I need to sell my home? http://www.zillow.com/advice-thread/What-information-do-I-need-to-sell-my-home/492081/ Also, if you have a home owner's association, a copy of the by-laws would be helpful. If you have a recent payment stub for your mortgage, the account number and telephone number of the mortgage holder will also be needed to get payoff information when they need it.<br \><br \>0 replies Mon, 13 May 2013 16:01:00 GMT http://www.zillow.com/advice-thread/What-information-do-I-need-to-sell-my-home/492081/ 2013-05-13T16:01:00Z I personally think that housing will never come back http://www.zillow.com/advice-thread/I-personally-think-that-housing-will-never-come-back/18457/ <p>In my area they doubled in three years and tripled in ten years.&nbsp; The pain of having negative equity on a house here will be felt for quite a long time.&nbsp; People are now slaves of their mortgages.</p><br \><br \>0 replies Wed, 23 Jan 2008 18:12:00 GMT http://www.zillow.com/advice-thread/I-personally-think-that-housing-will-never-come-back/18457/ 2008-01-23T18:12:00Z How do I sell my house for what is owed on the mortgage without having to pay any out of pocket fees http://www.zillow.com/advice-thread/How-do-I-sell-my-house-for-what-is-owed-on-the-mortgage-without-having-to-pay-any-out-of-pocket-fees/473633/ I owe about $40,000 on my old mortgage. My father in law wants to buy the house for what is owed on it. &nbsp;How can I do this without having to pay for any repairs, closing costs, taxes, etc? If I'm not making any money off of the sale, then I don't want to be surprised with costs.<br \><br \>4 replies Tue, 08 Jan 2013 20:01:00 GMT http://www.zillow.com/advice-thread/How-do-I-sell-my-house-for-what-is-owed-on-the-mortgage-without-having-to-pay-any-out-of-pocket-fees/473633/ 2013-01-08T20:01:00Z When will be a good time to put our house on the market again andwill we have to sell it at a loss http://www.zillow.com/advice-thread/When-will-be-a-good-time-to-put-our-house-on-the-market-again-andwill-we-have-to-sell-it-at-a-loss/178388/ There are many variables to this question that are not clear, mainly where your home is located.&nbsp;&nbsp; The market is beginning to turn in many places, but others are still struggling.&nbsp;&nbsp;&nbsp; The bottom line is that if you have to sell now then make sure you hire someone who gives you honest answers and help.&nbsp; If you have to sell at a loss and are in a <a href="http://www.zillow.com/mortgage/">Mortgage</a>, many companies are readily agreeing to Short Sale deals now that let you walk away often without any further debt.&nbsp; There is a possible tax liability but it is my understanding that the recent legislation helps the tax liability but you should consult a tax professional.<br \><br \>0 replies Thu, 18 Dec 2008 04:59:00 GMT http://www.zillow.com/advice-thread/When-will-be-a-good-time-to-put-our-house-on-the-market-again-andwill-we-have-to-sell-it-at-a-loss/178388/ 2008-12-18T04:59:00Z NEGATIVE AMORTIZATION http://www.zillow.com/advice-thread/NEGATIVE-AMORTIZATION/12314/ Anyone that can explain this to me in the For Dummies vernacular I'd be grateful to... also what are the pros if any and the cons, and how long does it take for the cons to happen after the fact... it sound fishy to me - I got something in the mail that looks interesting and reduce my monthly <a href="http://www.zillow.com/mortgage/">mortgage</a> by some $700.00 which would be nice to have in my pocket to continue renovating... but I don';t know what half of the realtorease on it is and the phone number led me to someone who tried to realtorease me some more on the phone so I don't particularly trust them. Anyone???<br \><br \>17 replies Mon, 19 Nov 2007 08:49:00 GMT http://www.zillow.com/advice-thread/NEGATIVE-AMORTIZATION/12314/ 2007-11-19T08:49:00Z How do I remove my sisters name from our homes deed? http://www.zillow.com/advice-thread/How-do-I-remove-my-sisters-name-from-our-homes-deed/356773/ When we purchased our home, my mother was to live with me. My sister was included on the deed because she was going to pay for a portion of the mortgage for our mother.<br/>That never happened and now we would like to sell our home FSBO.<br \><br \>3 replies Wed, 07 Jul 2010 14:07:00 GMT http://www.zillow.com/advice-thread/How-do-I-remove-my-sisters-name-from-our-homes-deed/356773/ 2010-07-07T14:07:00Z what are requirements for short sale? http://www.zillow.com/advice-thread/what-are-requirements-for-short-sale/319874/ Here in the northeast, you must miss two <a href="http://www.zillow.com/mortgage/">mortgage</a> payments. You also must be able to conclusively demonstrate that you do not have enough money coming in to pay your bills. If you can pay the <a href="http://www.zillow.com/mortgage/">mortgages</a>, you are not a candidate. Short sale definitely beats <a href="http://www.zillow.com/homes/for_sale/fore_lt/">foreclosure</a> and bankruptcy options but it is no cake walk. I would strongly recommend hiring an attorney who specializes in short sales. A good one will NOT charge sellers. The bank will pay. For buyers, I can't recommend strongly enough using a real estate professional....but also hiring an attorney who has done a lot of short sales--a specialist. The one we use charges buyers a flat $750 fee. If you are successful in buying a short sale property, you should save at least 10% off the asking price. That is more than enough to cover all the loopholes and pitfalls that can befall you. Good luck!<br \><br \>0 replies Sun, 31 Jan 2010 18:22:00 GMT http://www.zillow.com/advice-thread/what-are-requirements-for-short-sale/319874/ 2010-01-31T18:22:00Z Housing Market http://www.zillow.com/advice-thread/Housing-Market/369083/ <p>Unless you are expecting a huge drop waiting it out makes no sense. For starters: all of the benefits, financial and otherwise,&nbsp;of homeownership. Which is a bigger conversation than we need to have to cover your question....<br/><br/> The other thing is, you never catch it before it goes back up if you wait and homes are more affordable today than at any time in history. There are numerous things to think about. Most importantly being interest rates. Mortgage rate pricing is dictated by the open market and is very volatile. Currently they are lower than they've ever been and have to go up sometime. Rates almost always go up before home prices do, making homes less affordable without the prices of homes in the market increasing by even 1%.<br/><br/> Speaking of home prices and interest rates, HOME AFFORDABILITY IS AT AN ALL TIME HIGH TODAY. Waiting for more is like seeing the best deal on something that has ever existed and saying "that's not good enough".<br/><br/> And if all that were not enough, local mortgage delinquencies are DOWN. There may be a lot of foreclosure notices in the paper today, but those are for people that missed their first mortgage payment that lead to the foreclosure back in 2008 and 2009. The 90 day delinquency rate for the Sacramento/South Placer market has gone down every month for seven consecutive months. With delinquencies down, we can only assume&nbsp;future foreclosures are going to go down as well.&nbsp;At the same time home prices have been stable or appreciating during that same period, an even longer period. The "bottom" of the market here was in April of 2009. Since then the average sale price in the area is up close to 15%. Knowing this, it's my opinion that we missed the bottom already, over a year ago.<br/><br/> <a href="http://rosevilleloanexpert.com/local-mortgage-delinquencies-are-down/" rel="nofollow">http://rosevilleloanexpert.com/local-mortgage-delinquencies-are-down/</a><br/><br/>I love Roseville, have lived and worked here for the last 20+ years, and I would hate to see anyone lose their opportunity to own their own home in this great city when there is a GREAT opportunity now but they waited for something even better. A something that has never happened in history.<br/><br/> Greg</p><br \><br \>0 replies Thu, 18 Nov 2010 19:51:00 GMT http://www.zillow.com/advice-thread/Housing-Market/369083/ 2010-11-18T19:51:00Z Looking for an agent in Ft. Lauderdale Area knowing how to sell a home in this market. Aggressive http://www.zillow.com/advice-thread/Looking-for-an-agent-in-Ft-Lauderdale-Area-knowing-how-to-sell-a-home-in-this-market-Aggressive/190704/ I have a home in Ft. Lauderdale that I am trying to sell. I tried the agent thing, they were not proactive enough it seemed. The home is currently vacant and I really need to sell. I do need to get a certain amount in order to cover past <a href="http://www.zillow.com/mortgage/">mortgage</a> and obtain some cash from it.<br \><br \>9 replies Wed, 21 Jan 2009 14:20:00 GMT http://www.zillow.com/advice-thread/Looking-for-an-agent-in-Ft-Lauderdale-Area-knowing-how-to-sell-a-home-in-this-market-Aggressive/190704/ 2009-01-21T14:20:00Z who should I contact to appraise our house? http://www.zillow.com/advice-thread/who-should-I-contact-to-appraise-our-house/405991/ Could I ask why you need an appraisal?&nbsp; If it is for financial/estate planning or divorce, etc, you can contact an appraiser yourself and like Sharon says, get a recommendation from a Mortgage person or Realtor.&nbsp; If you are looking to plan to sell the home, an appraisal isn't necessary and you should have a Realtor (or two) give you a Market analysis, which will be more accurate for that purpose.&nbsp; If you are re-financing, your Bank will do an appraisal if necessary and will not accept yours anyway.<br \><br \>0 replies Sun, 03 Jul 2011 12:10:00 GMT http://www.zillow.com/advice-thread/who-should-I-contact-to-appraise-our-house/405991/ 2011-07-03T12:10:00Z We have an offer on our house which states in addition to the price, he is now asking for $25,000 in http://www.zillow.com/advice-thread/We-have-an-offer-on-our-house-which-states-in-addition-to-the-price-he-is-now-asking-for-25-000-in/461354/ Sounds like the same thing that brought about the mortgage crisis. People with no money trying to buy a house they can't afford.<br \><br \>0 replies Wed, 26 Sep 2012 20:29:00 GMT http://www.zillow.com/advice-thread/We-have-an-offer-on-our-house-which-states-in-addition-to-the-price-he-is-now-asking-for-25-000-in/461354/ 2012-09-26T20:29:00Z Properties are priced double to quadruple what they are worth. This is not 2006.... http://www.zillow.com/advice-thread/Properties-are-priced-double-to-quadruple-what-they-are-worth-This-is-not-2006/227616/ most owe that much on the <a href="http://www.zillow.com/mortgage/">mortgage</a> and can not sell for less because they can not bring cash to the table to close. . its a bad circle and i personally would not buy anything myself unless it was really cheap and i knew i could not get hurt for the next few years.&nbsp;<br \><br \>0 replies Sat, 25 Apr 2009 13:32:00 GMT http://www.zillow.com/advice-thread/Properties-are-priced-double-to-quadruple-what-they-are-worth-This-is-not-2006/227616/ 2009-04-25T13:32:00Z Selling house to ex wife, quit claim deed? http://www.zillow.com/advice-thread/Selling-house-to-ex-wife-quit-claim-deed/326033/ You should get more specific advice from a <a href="http://www.zillow.com">real estate</a> or tax attorney, but...<br/><br/>My understanding is that executing a quit claim will take you off the title, but it wouldn't take you off the <a href="http://www.zillow.com/mortgage/">mortgage</a> (assuming both you and her are on the loan). That situation (i.e., you don't have any claim to the house,&nbsp;but you still have liability for the mortgage) could become an issue somewhere down the road.<br/><br/>So...<br/><br/>How good is your relationship with your ex?<br \><br \>0 replies Thu, 18 Feb 2010 21:00:00 GMT http://www.zillow.com/advice-thread/Selling-house-to-ex-wife-quit-claim-deed/326033/ 2010-02-18T21:00:00Z options when buyers appraisal comes in below acepted offer http://www.zillow.com/advice-thread/options-when-buyers-appraisal-comes-in-below-acepted-offer/522866/ Hopefully there is a statement that protects the buyers earnest money if home does not appraise to sales price buyer would receive their earnest money back- Now that being said- <br/><br/>There is no lender that will give a buyer a mortgage loan at a higher sales price if the appraisal&nbsp; ( I am assuming it was the buyers lender appraisal that came back low) came back lower then the sales price.<br/>Sounds like negotiations&nbsp;may be warranted to make the sale?<br/><br/>Good luck&nbsp;<br/>&nbsp;<br \><br \>0 replies Tue, 31 Dec 2013 23:18:00 GMT http://www.zillow.com/advice-thread/options-when-buyers-appraisal-comes-in-below-acepted-offer/522866/ 2013-12-31T23:18:00Z cohabitated with ex boyfriend and now house needs to be sold (maybe?) http://www.zillow.com/advice-thread/cohabitated-with-ex-boyfriend-and-now-house-needs-to-be-sold-maybe/492113/ Thank you, wetdawgs and Sebastian.<br/><br/>He told me that he contacted the bank to refi on his own but the bank said he couldn't because I owed money for medical bills. &nbsp;Can the bank really do that? &nbsp;They are my own personal bills and there isn't any lien or any second mortgage or anything like that on the house. &nbsp;I could understand that perhaps if we were refi'ing together, but we wouldn't.<br \><br \>0 replies Mon, 13 May 2013 19:25:00 GMT http://www.zillow.com/advice-thread/cohabitated-with-ex-boyfriend-and-now-house-needs-to-be-sold-maybe/492113/ 2013-05-13T19:25:00Z How do I properly go about a short sale? http://www.zillow.com/advice-thread/How-do-I-properly-go-about-a-short-sale/375244/ Is like the egg and the hen, You will not be able to sell your condo unless you come up with the difference at closing and keep making your payments until the day you sell, if you do a Short Sale the sinecuanon fact that need to be happening is that you cannot be current in your mortgage payments, it means that you will be in default, so if you have a defaulted loan in your credit report nobody is going to loan you anything even a bottle of wine, so that is the issue, you can either try to rent your current home and show the lender that income as an additional income get prequalified with that situation and see what happens, but as we told you if you do a short sale you will not be able to get a loan for 3 years at least.<br \><br \>0 replies Fri, 19 Nov 2010 22:33:00 GMT http://www.zillow.com/advice-thread/How-do-I-properly-go-about-a-short-sale/375244/ 2010-11-19T22:33:00Z Slowing Market http://www.zillow.com/advice-thread/Slowing-Market/6184/ Thanks Justyn - I hear you. I have family in Phoenix and they tell me the same thing about the market up there. <br/><br/>Some days are better than others in terms of my stress level. Now that we have a new <a href="http://www.zillow.com/directory/real-estate-agents/">realtor</a> who is definitely on top of things, that has greatly relieved my stress. We are able to sustain the two <a href="http://www.zillow.com/mortgage/">mortgages</a> for a period of time so we are fortunate in that regard. We have put off doing anything to the new house so it's a little like being in limbo, but we know that eventually the house will sell.<br \><br \>0 replies Fri, 14 Sep 2007 13:57:00 GMT http://www.zillow.com/advice-thread/Slowing-Market/6184/ 2007-09-14T13:57:00Z Zillow will artificially adjust the prices of homes according to what benefits their investments http://www.zillow.com/advice-thread/Zillow-will-artificially-adjust-the-prices-of-homes-according-to-what-benefits-their-investments/338341/ Funny how Phyllis will try to answer questions on the <a href="http://www.zillow.com/mortgage/">mortgage</a> threads and then cut down a <a href="http://www.zillow.com/directory/lenders/">lender</a> for answering a question about Zillow's valuation.<br/><br/>@ Phyllis...It's not like Sherri answered a question about listing/selling. She didn't give any incorrect answer...as a matter of fact it was not only correct but more detailed than your simple answer.<br/><br/>@Jack...what you're implying about Zillow "controlling" values is delusional. <br/><br \><br \>0 replies Sun, 28 Mar 2010 06:14:00 GMT http://www.zillow.com/advice-thread/Zillow-will-artificially-adjust-the-prices-of-homes-according-to-what-benefits-their-investments/338341/ 2010-03-28T06:14:00Z One More Reason to Regret Being Responsible http://www.zillow.com/advice-thread/One-More-Reason-to-Regret-Being-Responsible/252229/ I know people who have researched what it takes to qualify for this deal, then stopped making payments in order to get their <a href="http://www.zillow.com/mortgage/">mortgage</a> restructured, even though they are still fully capable of fulfilling the contract they signed. Personally, I think there should be a permanent ramification to doing this that will show on a <a href="http://www.zillow.com/mortgage-glossary/Credit-Report/">credit report</a>. I want to know when I'm dealing with people who don't honor their commitments.<br \><br \>0 replies Sun, 19 Jul 2009 18:33:00 GMT http://www.zillow.com/advice-thread/One-More-Reason-to-Regret-Being-Responsible/252229/ 2009-07-19T18:33:00Z