[SellingMyHome]

[quote=Vishon]One question about OP’s calculation. The tax saving of $900/month, is that before or after the property tax paid?

For the purchase price of $424k, at 1%, the property tax is $4240 or $353/month.

The tax saving should be corrected accordingly.

V[/quote]

I’m not sure what you’re asking. I’m saying that I think I’m getting about $900 in reduced taxes that I won’t get if I don’t own anymore (by interest and property tax deductions).

I saw another post that said add up your interest and property tax payment, multiply by 34%, and divide by 12 to estimate the tax savings. I think the 34% was a tax bracket guess for the poster’s income, which seems close to mine.

[SellingMyHome]

[quote=Vishon]One question about OP’s calculation. The tax saving of $900/month, is that before or after the property tax paid?

For the purchase price of $424k, at 1%, the property tax is $4240 or $353/month.

The tax saving should be corrected accordingly.

V[/quote]

I’m not sure what you’re asking. I’m saying that I think I’m getting about $900 in reduced taxes that I won’t get if I don’t own anymore (by interest and property tax deductions).

I saw another post that said add up your interest and property tax payment, multiply by 34%, and divide by 12 to estimate the tax savings. I think the 34% was a tax bracket guess for the poster’s income, which seems close to mine.

[SellingMyHome]

[quote=Vishon]One question about OP’s calculation. The tax saving of $900/month, is that before or after the property tax paid?

For the purchase price of $424k, at 1%, the property tax is $4240 or $353/month.

The tax saving should be corrected accordingly.

V[/quote]

I’m not sure what you’re asking. I’m saying that I think I’m getting about $900 in reduced taxes that I won’t get if I don’t own anymore (by interest and property tax deductions).

I saw another post that said add up your interest and property tax payment, multiply by 34%, and divide by 12 to estimate the tax savings. I think the 34% was a tax bracket guess for the poster’s income, which seems close to mine.

[SellingMyHome]

[quote=sdrealtor]One last thing that might not have been clear. You have a questionable hardship case and may not get it approved. If that happens and you still want out you can walk because you only have one loan. Once they foreclose they cant come after you. Goggle California Civil Code 580b. Of course I’ll give you the std disclaimer to verify this all with an attorney.[/quote]

Is that true even with my refi? It is now considered non-purchase and is recourse? Hope I’m wrong.

[SellingMyHome]

[quote=sdrealtor]One last thing that might not have been clear. You have a questionable hardship case and may not get it approved. If that happens and you still want out you can walk because you only have one loan. Once they foreclose they cant come after you. Goggle California Civil Code 580b. Of course I’ll give you the std disclaimer to verify this all with an attorney.[/quote]

Is that true even with my refi? It is now considered non-purchase and is recourse? Hope I’m wrong.

[SellingMyHome]

[quote=sdrealtor]One last thing that might not have been clear. You have a questionable hardship case and may not get it approved. If that happens and you still want out you can walk because you only have one loan. Once they foreclose they cant come after you. Goggle California Civil Code 580b. Of course I’ll give you the std disclaimer to verify this all with an attorney.[/quote]

Is that true even with my refi? It is now considered non-purchase and is recourse? Hope I’m wrong.

[SellingMyHome]

[quote=sdrealtor]One last thing that might not have been clear. You have a questionable hardship case and may not get it approved. If that happens and you still want out you can walk because you only have one loan. Once they foreclose they cant come after you. Goggle California Civil Code 580b. Of course I’ll give you the std disclaimer to verify this all with an attorney.[/quote]

Is that true even with my refi? It is now considered non-purchase and is recourse? Hope I’m wrong.

[SellingMyHome]

[quote=sdrealtor]One last thing that might not have been clear. You have a questionable hardship case and may not get it approved. If that happens and you still want out you can walk because you only have one loan. Once they foreclose they cant come after you. Goggle California Civil Code 580b. Of course I’ll give you the std disclaimer to verify this all with an attorney.[/quote]

Is that true even with my refi? It is now considered non-purchase and is recourse? Hope I’m wrong.

[SellingMyHome]

I will stay on top of my realtor, trust me, especially after what I’ve read.

We just submitted the offer to the bank, so I imagine I should give it a few weeks before I call. Can I call lender (PNC by the way), directly?

[SellingMyHome]

I will stay on top of my realtor, trust me, especially after what I’ve read.

We just submitted the offer to the bank, so I imagine I should give it a few weeks before I call. Can I call lender (PNC by the way), directly?

[SellingMyHome]

I will stay on top of my realtor, trust me, especially after what I’ve read.

We just submitted the offer to the bank, so I imagine I should give it a few weeks before I call. Can I call lender (PNC by the way), directly?

[SellingMyHome]

I will stay on top of my realtor, trust me, especially after what I’ve read.

We just submitted the offer to the bank, so I imagine I should give it a few weeks before I call. Can I call lender (PNC by the way), directly?

[SellingMyHome]

I will stay on top of my realtor, trust me, especially after what I’ve read.

We just submitted the offer to the bank, so I imagine I should give it a few weeks before I call. Can I call lender (PNC by the way), directly?

[SellingMyHome]

Not a plant at all. I was about to list with Battiata and was doing my due diligence researching his company. I did a search of Battitata Real Estate Complaints, and ended up here (found the BBB listing with no complaints by the way). I’ve been here before researching other things, so found this thread interesting.

I honestly will report back on my experience, trust me. If you don’t, please feel free to private message me, and we can talk in person.

I signed the listing agreement forms and sent them in to his team Monday morning. Still have not heard back about preparing for the listing, so that has concerned me a bit.

I’m very worried about selling my house as a short-sale, and want to avoid foreclosure. I picked his team because of the experience dealing with lenders.

[SellingMyHome]

Not a plant at all. I was about to list with Battiata and was doing my due diligence researching his company. I did a search of Battitata Real Estate Complaints, and ended up here (found the BBB listing with no complaints by the way). I’ve been here before researching other things, so found this thread interesting.

I honestly will report back on my experience, trust me. If you don’t, please feel free to private message me, and we can talk in person.

I signed the listing agreement forms and sent them in to his team Monday morning. Still have not heard back about preparing for the listing, so that has concerned me a bit.

I’m very worried about selling my house as a short-sale, and want to avoid foreclosure. I picked his team because of the experience dealing with lenders.

[Author]

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