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Working as a mortgage loan officer for close to 20 years, typically selling the house you have purchased one year ago, with a high loan to value, will result in you taking a loss after paying realtor fees and other expenses. You should be able to still sell! However, if you have what is known as a hard pre-payment penalty in your note rider or mortgage, there will be the expense paid to the lender to pay off the mortgage early. This can range from 1% of the mortgage balance to up to 6 months worth of interest. If you have a soft pre-payment penalty, the lender does not charge you this penalty for selling the house, only if you refinance for different terms. Check your Mortgage and your Mortgage Note and if applicable, the Mortgage Note Rider. These documents should have been given to you at closing.
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Quailfing for first time home owner after owning a home for less than a year?
It depends on when you bought the house. If you buy it before December 1, 2009 and haven't owned a house in the last 7 years. Then yes, you would qualify.
How does someone qualify for the home buyers credit?
The first time home buyers credit is available to people who purchased their home from 2008-2010. You could not previously have owned a home in the three years before the closing date on your new house. If you owned a home previously, but sold it before the three year deadline, you are still a candidate.
Do you have to pay capital gains on your second home if owned for more then one year?
yes
Can you sell a 20 year term life insurance policy which has no cash value?
Can you sell a 20 year term life insurance policy which has no cash value
If a couple with excellent credit and no debt wants to sell their condo and buy a house is it possible to get a mortgage right now if one person started freelancing just over a year ago?
The only person who can answer your question is your mortgage lender. If you are debt free, and if the equity in your condominium will give you enough cash for a qualifying down payment, and the house you want to buy requires a mortgage that you can afford, you may be able to obtain a mortgage.
If you owned a house before marriage and you were only married for one year does your ex have any rights to it?
Are you in Californica?
You have had your house only one year can you file chapter 13?
The period of time you have owned your house is not relevant. Many other things may be though.
What year did ford sell cummins?
They never owned Cummins in the first place.
If your house is repossed in the middle of the year do you have to pay the whole year property taxes?
No, just for the time you owned it.
If you sell a painting how much tax do you pay?
The answer depends on your marginal tax rate, if you're selling the painting at a gain, and how long you've owned the painting. Your gain or loss on the painting is typically the amount you sold the painting for minus the amount you paid for the painting. You will only pay tax if you sell the painting at a gain. If your marginal tax rate is 28% or lower, you will likely pay tax at your marginal rate on the gain regardless of how long you've owned it. If your marginal tax rate is over 28%, you will pay 28% tax on the gain if you've owned the painting for over a year or pay tax at your marginal rate if you've owned the painting for less than a year.
How much do realtors earn in a year?
I am a realtor. I earn aabout $64,000 a year. It is my favorite job ever. It depends on how many houses you sell, if you sell every house you try to sell, you could earn millions, if you sell none you would make little money. My aunt is a realtor she makes about 88,000 dollars a year.
Can a 10 year old open a bake shop?
Only if it is actually owned by someone 21 or over.
Can you only sell 3 cars privately in a year and what happens if you sell 4?
Call the department of transportation in your state to find out.
How many guns does Remington sell in a year?
Only Remington and the BATFE know.
How many cars a year can a private party sell in Georgia?
Only 5.
How many cars can you sell a year without a dealears licence?
It all depends where you live. I had a friend in Boston that could only sell two a year, and I had a friend in Texas that could sell 5 every year. Just all depends what state you live in.
How many cars can you sell per year in Colorado before needing a dealers license?
You can only sell 3 cars per year before needing a dealers license.
