Tag Archives: mortage

my home was sold at a foreclosure sale today. is there anything i can do to save my home? can anyone help?

i had been trying to work it out with the mortage company but that failed due to time constrants. any suggestions would be helpful. I don’t want more mortage compamies calling me alot of different compamies called me and attoneys. the bad thing is that i listened to one of them and that made the situation worse and the mortage holder didn’t work with me then. i don’t know if it sold or who bought yet but i really wanted to save my house. It’s not much, but i at least had a place to call home for the first time and my child finally had a home. This was the first year in the last seven she has been well and not in the hoospital. she is finally secure and happy. i don’t know how i will tell her i screwed up again.

help me understand 1031 EXCHANGE?

I owned my duplex for 7 yrs. I lived in it for about 8 months and met a fella and moved in his house and rented out both apts. I live in NH. I heard if i want to get any money out of the sale of the duplex I’ll have to pay capital gains on the intire amount being it is an investment property due to me not living in it for 2 yrs. OR, I can do a 1031 exchange. I paid $85,000 7 yrs ago, owe $61,000 now. It’s on the market for $249,900 since yesterday. My friend said if I don’t want to pay big $ on capital gains I can reinvest the money on more income property. But I will have to pay 7 1/2 per cent to the state of NH for stamps ( a rip off), 5% to the real estate lady and $61,000 I still owe on it to the bank. My friend said I can deduct the stamps and RE commision .Is it true I will have to reinvest in more income property for the full sales amount? How can I buy with money I made with out a mortage? I want to buy but if i buy for full sales amount I will not be able to afford the mortage

Can anyone direct me to resources on how to sell property on land contract?

I am going thru a forecloser due to medical circumstances, my lender has been trying to work with me, the only option I see at this point is selling on land contract using the down pmt to catch up the mortage, I have no idea how to pursue this thought. Can anyone help me? selling on land contract I was hoping would help rebuild my credit and easier to make a quick sale then the cost of realator and waiting for traditional sales market. Any ideas?

Doe realtors ever pay repair or other costs to close a deal?

My house is close to settlement. The appraisal came through 2K short of the buyer mortage but 3K above the actual sale price. It was planned that I would return 5K to the buyers. Now I STRONGLY believe it to be fair to only return 3K to the buyer since the house appraised for more than the actual sale price. The buyers demanded that I split the difference and provide 4K to them. Since I lose 1K from the orginal deal I agreed only to do repairs that were required by the town I live in, leaving out some repairs that were requested from the home inspector. All repairs are minor including some minor electrical, roof(actually a shingle), gutter, and AC repair. The total would most likely be below 1K.

If the buyers do not agree to me not making all the repairs is it ok to then presure my agent who stands to me 4% off the deal to take care of some repairs.
Or simply put do realtors ever provide money or repairs to close deals?
Sleek my realtor is receving 4%(great deal for him) and the buyers agent(Foxtons) 2%.

my home was sold at a foreclosure sale today. is there anything i can do to save my home? can anyone help?

i had been trying to work it out with the mortage company but that failed due to time constrants. any suggestions would be helpful. I don’t want more mortage compamies calling me alot of different compamies called me and attoneys. the bad thing is that i listened to one of them and that made the situation worse and the mortage holder didn’t work with me then. i don’t know if it sold or who bought yet but i really wanted to save my house. It’s not much, but i at least had a place to call home for the first time and my child finally had a home. This was the first year in the last seven she has been well and not in the hoospital. she is finally secure and happy. i don’t know how i will tell her i screwed up again.