I was looking through zillow.com and I thought my house was underwater. I owe 102,000 and I thought that my house is worth around the 90,000 range so i can strip my second mortgage but according to zillow, it's worth 120,000. I can still make my first mortgage payments which is affordable. I'd like to know if i have any options to save my home if what was posted on zillow is actually true.
-
-
Don't count on Zillow for a value. Ask a real estate agent for a Comparative Market Analysis (CMA). They will usually provide them for free.LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent! -
^ditto. ^ Zillow has my house for way over what it's worth. If you've been too broke to maintain it perfectly, Zillow has no way of knowing that.
Remember to point out needed repairs to any agent. They are in the habit of pricing a bit optimistically to get you to sign with them.
Keep On Smilin'Comment
-
how about an appraisal, are those more accurate than going to real estate agent?Comment
-
No, forget an appraisal. I think you want a Broker Price Opinion.
Property value should be based on a quick sale (low price) and subtract commission and other costs of sale.
In a declining market you should be able to strip that second lien, and it is still a declining market.filed chapter 13..confirmed...converted to chapter 7...DISCHARGED!Comment
Comment