
What is negative equity?
It’s when your home’s value sinks below the amount you owe on your mortgage.
Jeffrey L. Beal of Real Estate Solutions has 40 years' experience in multiple phases of the real estate industry, and has been a Certified General Appraiser since 1992. As such, he has consulted and testified as an expert in local, state and federal cases in a variety of matters related to real property or interests in real property where there is an issue of valuation, loss in value, damages or taxation. He is also an expert in issues involving zoning and variances. In addition, he is an expert on appraisal ethics and practice. He is comfortable in front of both a judge and a jury having taught appraisal and real estate courses since 2000 (4,000+ classroom hours). His teaching includes certificate, pre-licensing and continuing education courses at two-year and four-year colleges and private real estate schools.
It’s when your home’s value sinks below the amount you owe on your mortgage.
It’s pretty similar to any ARM — and despite the low intro rates, it comes with caveats.
Follow these 10 steps to nail the loan and make buying that home a reality.
Here’s a checklist of what you need to get a mortgage preapproval letter.
Here’s everything to know about mortgage interest charges and rates.
Your payments could go up drastically once the draw period ends. Here’s how to cope.
Learn how to minimize negative changes to your credit score when consolidating debt.
It means you’ve got financing to buy a home — probably. But it’s far from a done deal.