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[REAL ESTATE] Do I make or lose money from selling home while still under loan?

Discussion in 'BBS Hangout' started by SwoLy-D, Sep 27, 2008.

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  1. SwoLy-D

    SwoLy-D Member

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    rrj_gamz, I might consider it for the next few years, if not for next year. I am not set on what we want to do. We'll let this economy "trouble" die down. :rolleyes:

    We think our credit history is good enough to get the best rate out there on a semi-new hizzie in the next few years. Mrs. SwoLY really wants to avoid driving so much (Katy -> Downtown, etc.).

    I will try to avoid paying for 2 mortgages as much as possible.
     
    #21 SwoLy-D, Sep 30, 2008
  2. Pete the Cheat

    Pete the Cheat Member

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    hilarious...just what I needed this morning...


    swoly - you picked a pretty bad time to sell your house, as has been mentioned before.

    we closed on our house at the end of February and were able to get it for 20k under what the previous owner had paid...he had already bought a house and was desperate to sell because there were two forclosures on the same street going for about 10k less...

    while I have read the agents on here saying that the market value for Houston hasn't been effected substantially, that is true for the Houston metro area...

    but in the suburban parts on the outskirts of town it is a buyers market right now...


    I am no agent, but my advice would be to either ride this thing out for better or worse to get a fair value for your house...or make sure you have some serious prospects before you ever get the inclination to make an offer on another house...
     
    #22 Pete the Cheat, Sep 30, 2008
  3. Supermac34

    Supermac34 President, Von Wafer Fan Club

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    Of course, if you take a 10K hit on your current house to get a 30K discount on a more expensive house, it might be worth it in the end.
     
    #23 Supermac34, Sep 30, 2008
  4. lcc179

    lcc179 Member

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    #24 lcc179, Oct 1, 2008
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