Do You Owe More On Your House Then It's Worth?

HERE'S WHAT I THINK

Do You Owe More On Your House Then It's Worth?

Sadly many American's have gotten caught up in the depreciating home market that has taken over our country. As home prices drop homeowners are finding themselves in a quandary...stay put and hope home prices increase or sell at a loss. How has the economy affected you home value? Do you owe more on your house then it's worth?

Home Value Poll

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How To Determine The Value Of Your Home

Start with Zillow (see below). Zillow gives you a range of what your house is worth and tracks a 30-day to 5 year value. I love this service and it's free.
Ask the County Auditor. Most counties have a searchable site and give an indepth "picture" of your home including taxes, assessments, home grade and property values.
Consult with a realtor. Realtors can advise you on how to increase you homes value with small cosmetic upgrades. Adding a few thousand dollars to a sale of a home in this market is priceless!

USE ZILLOW

Find Out How Much Your House Is Worth!

I love Zillow, it's easy to navigate and best of all it's FREE!

Zillow: Zillow provides free real estate information including homes for sale, comparable homes, historical sales, home valuation tools and more. Whether you're a first-time homebuyer, selling a home, agent, broker, buyer of investment property or real estate professional - Get Your Edge in Real Estate at Zillow.

YOUR TURN!

Do You Owe More On Your House Then It's Worth?

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No

Gracegirl140 says:

No, but I know at least 3 families that do owe more.

Posted November 25, 2009

Toni says:

No, I have put extra on the principal every since I purchased my home. You would be amazed how much you save by doing that. It is the smartest thing to do, my loan is decreasing every month.

Posted October 25, 2008

pdecker says:

No, I bought what I could afford and put money down. I also live in an area that only appreciated modestly during the boom and therefore, has not depreciated like other areas. I'm fortunate!

Posted June 20, 2008

bdkz says:

No, although our house has not appreciated very much since we bought it 5 years ago.

Posted February 27, 2008

Yes

Nicole says:

Yes. I didn't buy more than I could afford either

Posted August 26, 2009

chris says:

yes

Posted July 16, 2009

Mortgage123.com says:

We live in Florida so that should answer the question. Of course, this also makes for the best buying opportunity in DECADES!

Posted April 19, 2009

Angel says:

Yep... that's been my luck lately. Hubby loses job... house
loses it's value... and I'm losing my mind (that also may have
to do with my kids, however...) ;)

Posted April 02, 2009

sb says:

Yes. House has gone down more than 50% and is basically worthless

Posted February 28, 2009

Antonette says:

I'm currently in a loan modification program with my lender, but my home is less than what I owe. Can I contact the lender to readjust my principle balance, therefore, lowering my monthly payments?

Posted February 18, 2009

mike says:

yes

Posted January 30, 2009

Kit says:

Yes I do because we refinanced twice and thought we had plenty of equity left until prices dropped through the floor in California. We are STUCK now.

Posted January 13, 2009

Kathleen says:

We put 70,000. down on our house that we bought in 2004. We purchased our home for 320,000. Now the value is about 220,000. possibly 250,000. We are current on our mortgage payments but my husband has been transferred to another state. Most of the people in our sub are original owners and probably paid around 175,000. to 200,000. What are we to do? We can't walk away from our down payment.

Posted January 03, 2009

Eric says:

Yes, and I want to refi and I am not behind on my note so the bank said no.

Posted December 25, 2008

bob puckett says:

i owe more than the house is worth, i am not behind,is there anything i could do

Posted December 03, 2008

JW says:

I bought my home 14 years ago but refi twice; to pay-off my car loan with a 16% interest rate,refinanced at 6.6% fixed 26 year loan. I'm two months ahead on my notes but I owe $75,000 more than its worth.

Posted November 18, 2008