I-134. Q7 WHICH MORTGAGES OR OTHER ENCUMBRANCE THEREON AMOUNTING TO

[wawawa11 0]

WHICH MORTGAGES OR OTHER ENCUMBRANCE THEREON AMOUNTING TOWHAT AM I SUPPOSED TO PUT ON THIS VALUE? ________

I COULDN'T UNDERSTAND THE QUESTION. WHAT VALUE DO I PUT THERE?

ALSO ON, I OWN REAL ESTATE VALUDED AT :_______

WHAT VALUE DO I PUT THERE? THE CURRENT VALUE OR THE VALUE WHEN I BOUGHT THE HOUSE?

THANKS FOR THE HELP...

[Ling Ling 22]

WHICH MORTGAGES OR OTHER ENCUMBRANCE THEREON AMOUNTING TOWHAT AM I SUPPOSED TO PUT ON THIS VALUE? ________

I COULDN'T UNDERSTAND THE QUESTION. WHAT VALUE DO I PUT THERE?

ALSO ON, I OWN REAL ESTATE VALUDED AT :_______

WHAT VALUE DO I PUT THERE? THE CURRENT VALUE OR THE VALUE WHEN I BOUGHT THE HOUSE?

THANKS FOR THE HELP...

Hmmmm, member since March and still no timeline????

Please create a timeline...it helps everyone.

For part 1 of your question, you enter whatever mortgages (and second mortgages) you owe on the property.

The current balance on your mortgage statement.

For part 2, you enter the current value.

Please add your timeline....that will be thanks enough.

[Nich-Nick 3,354]

What is you house worth right now if you were going to put it up for sale? I just estimated a price based on what similar houses in the neighborhood are listed for. I didn't go get an appraisal.

So for example: Your house would list today for $150,000. So that is the answer for "I own real estate valued at....."

And you still owe $75,000 on the mortgage. That's the answer to "with mortgage or encumberance thereon."

Edited August 17, 2008 by Nich-Nick

[wawawa11 0]

Thanks guys.

I bought the house at high point of the market so the difference between I owe and current value is like more than 100K.

Is it a good idea not to put it there? or still put it there just for the record?

What is you house worth right now if you were going to put it up for sale? I just estimated a price based on what similar houses in the neighborhood are listed for. I didn't go get an appraisal.

So for example: Your house would list today for $150,000. So that is the answer for "I own real estate valued at....."

And you still owe $75,000 on the mortgage. That's the answer to "with mortgage or encumberance thereon."

[Nich-Nick 3,354]

Thanks guys.

I bought the house at high point of the market so the difference between I owe and current value is like more than 100K.

Is it a good idea not to put it there? or still put it there just for the record?

If your salary meets the requirements, you don't have to list assets. If you want to show assets, then list the house. If your income isn't enough, then you've got 100k in assets to show. It's your choice.