tag:blogger.com,1999:blog-4797432599663441966.post6456418635687384999..comments2008-05-12T07:20:17.124-04:00FRANK LL0SA Va Broker- BLOG.FranklyRealty.comhttp://www.blogger.com/profile/12647085935682292923noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-4797432599663441966.post-48120049180918625122008-05-11T23:24:00.000-04:002008-05-11T23:24:00.000-04:00

Bought my cute little new home a year ago for 255,000. The developer is now selling the same model for 178,999 (with crazy incentives). I didn't buy a house to make money, and wasn't worried about fluctuations here and there. I just hadn't a clue that the value could drop by 30%....leaving me trapped in a house that is so upside down it scares me. If I stay, I pay and scrimp for value that

Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-53132831856782445502007-11-28T09:52:00.000-05:002007-11-28T09:52:00.000-05:00

Anonymous, The reason you can't find a solution is because there isn't one.How big is your job raise? $5k? $10k? If you are going to lose $20k on your house, maybe it isn't such a big deal.If your raise is $10k and you will lose $5k on your house, maybe you can get your employer to eat the $5k and make your raise smaller for the first year.I know you don't want to rent your house, but you didn't

FRANK LL0SA Va Broker- BLOG.FranklyRealty.comhttp://www.blogger.com/profile/12647085935682292923noreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-58186997600063244552007-11-28T09:21:00.000-05:002007-11-28T09:21:00.000-05:00

I owe 156,000 on my mortgage and 23,000 on a home equity loan. I have been relocated by my employer and have to sell my home. If the relocation company buys my home for market value, I am afraid I will not get the money I need to pay off both loans. I do not have the money to pay off the home equity since the housing market has dropped so much. I can’t rent out the house. What are my options? I

Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-26694582493162086452007-01-19T16:00:00.000-05:002007-01-19T16:00:00.000-05:00

Great Blog Frank! Don't forget that once you rent out your condo for at least 3 months it is considered a "business" for tax purposes. Thus is one of the only ways to "shelter" a R/E loss -- as a business loss not personal loss. As a landlord you can also write-off the condo fees and begin depreciating your buy-in cost basis, as another tax shelter. However, it is true that the loss will be

Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4797432599663441966.post-74506867368262599792007-01-17T10:37:00.000-05:002007-01-17T10:37:00.000-05:00

I'm depressed now.

Depressednoreply@blogger.com