Thursday, February 26, 2009
- Mortgage Assumption? Part 1
Do you have to sell in this market? Did you buy in the last 2-3 years & are looking at a break even or negative cash flow scenario? If you bought before this time, you will probably do just fine when you sell your home. Those buying in recent years are facing new challenges. Firstly: Check your payout penalty on your mortgage! Is is only 3 months? It could be IRD (interst rate differential)--and this could be significantly higher than a 3 month payout. Know what your costs of selling are--don't find out at closing that your payout penalty is $16,000 instead of $4500. ....more to come....
posted in Listings
at Thu, 26 Feb 2009 08:06:21 +0000