I have owned my house now for 3 years and have made many improvements. I paid 129K and I hope to sell for more than what I paid for it in 2005 (asking 155K). Will I have to pay any profit back to the government or other entity?
Does it depend on the current appraisal value of the house?
Also, is it right that I can sell the house with my current interest rate (5.75%) as well?
The only information I can find online is about obtaining a FHA loan.
Thanks!
I know that if a person already has an FHA loan, they may refinance using the FHA Streamline process. If a creature currently has a conventional mortgage loan, can they refinance using FHA? If posible, can you please provide me the ... Can a legal representative catch me out of my home mortgage loan? No. Selling the house can. don't know about a legal representative but a real estate agent can do a fast provide and sell your house for less and catch you out without a ...
I bought my home 10 years ago through FHA. The requirement of 3% down was the primary reason I was able to make the jump from renting to homeownership. In the 10 years that I have been in my home, I have never been late on a payment. .... One thing you might want to do is explore the option of putting it to a vote in your community. You should be able to hold a meeting and if enough people want the HOA to be FHA Approved, you should be able to get it done. I know that if ...
They've pretty well closed that getting a new loan before you walk away loophole. With FHA you have to be moving 50+ miles away before you can have a second FHA loan. On VA you will have used up the vast majority of your ..... You clearly know a lot more about this topic than I do, but I do know plenty of middle-class white folks that bought way more house than they could afford. That law had nothing to do with it. Not saying it didn't contribute to the overall problem, ...
you pay off the mortgage with the proceeds after deductiong sales commission and closing costs. period. the balance goes to you. In order for a buyer to have a mortgage approved, your house will have to be appraised to the satisfaction of the bank giving the mortgage to the new buyer. The rate on your mortgage has nothing to do with the mortgage of the buyer