Back out

[BeerBob123]

1 hour ago, veerigadu said:

Oreyyy swatty sannasiiii Endiiii Ra neee badhaaa 

I think fake post by Mod

[Piracy Raja]

2 hours ago, krrish said:

Music start ayindi…house prices are dropping…new home closing date coming soon…please help me how I can back out from the builder…paid nearly 40k price earnest deposit…DB pedhalu, help seyyundri urgent ga… 

oka 5-6 Credit cards apply cheyyi appudu nee home loan reject avutadhi then builder gadu earnest deposit retunsn istadu

[Thokkalee]

31 minutes ago, krrish said:

yes. But with high interest rates, people prefer ARMs and worry abt other things later

You have to look at the total cost of the loan.. not just the first 5 years… arm loans are way too expensive when compared with a higher interest 30 yr loan.. and there is hardly a 1% difference between them

many people just jump onto them as the apr number looks small assuming it is cheap.. 

[guntoor_rathaiah]

8 hours ago, Piracy Raja said:

oka 5-6 Credit cards apply cheyyi appudu nee home loan reject avutadhi then builder gadu earnest deposit retunsn istadu

100% work out avudda bro …. Elaa chesthe …. @veerigadu

[HugoStrange]

9 hours ago, Thokkalee said:

Don’t take ARM loans unless you plan to sell the home in 5 years.. They become prohibitively expensive after 5 years.. you can refinance and when you do it, you will start paying the interest again on the loan amount.. 

Also, don’t take advice from people who never owned a home.. 

Also u need to understand how loans work, mortgage interests are not front loaded. If u refinance for 30 years again u will pay more interest due to the length of time not due to interest being front loaded. Your EMI will decrease due to increase in time and if u pay ur previous EMI amount then you will payit off sooner.

I agree with you not to take Arm unless u plan to sell ur home in 5years

[pakeer_saab]

11 hours ago, krrish said:

Music start ayindi…house prices are dropping…new home closing date coming soon…please help me how I can back out from the builder…paid nearly 40k price earnest deposit…DB pedhalu, help seyyundri urgent ga… 

Volatility in home prices will always be there, get the appraisal value and negotiate on the lowest price per sq ft based on the homes sold in the last  1 month and not allow to use home prices from 6 months ago

you cannot arbitrarily change mind after signing contract, you need a strategy to negotiate a price

as long as you have job and emergency fund, you will be alright, go for fixed loan only, interest rates will go down in the next 1.5 yrs once the inflation is controlled, you can refi then

 

[Telugodura456]

10 hours ago, Thokkalee said:

Don’t take ARM loans unless you plan to sell the home in 5 years.. They become prohibitively expensive after 5 years.. you can refinance and when you do it, you will start paying the interest again on the loan amount.. 

Also, don’t take advice from people who never owned a home.. 

can you elaborate on "you will start paying intrest again on loan amount" - my borhter is taking arm i am telling him no. But i dont know full details.

[Kurrodu1]

11 hours ago, krrish said:

Nearly 25k for now…but scared to imagine what’s going to happen in the next few months…

 

25k is not much. Whats the total cost of the house?

price 10% taggithe alochinchochu backout. 

[Telugodura456]

no chance of builder re-negotiation. they made enough money and will wait it out. be willing to lose 40k and hope for better bargains in the market if thats your bet.

[FLraja]

9 hours ago, krrish said:

It was a trick from my agent at the time of bidding 

Bidding enduku vesav new home ki? Ippudu backoff avvu deposit vostundi appraisal takkuva vostey, also loan fail chesko

[quickgun_murugun]

11 hours ago, BeerBob123 said:

 

Lol

[quickgun_murugun]

12 hours ago, krrish said:

Music start ayindi…house prices are dropping…new home closing date coming soon…please help me how I can back out from the builder…paid nearly 40k price earnest deposit…DB pedhalu, help seyyundri urgent ga… 

Neeku loan reject aythey earnest deposit return ichey chance undi . Or if there is any other strong reason . 

[Pavanonline]

ila ithe nuvvu illu konatte, na mata vini rental lo undu. ne contract lo untayi terms to back out. loan kavalane chedadobbukunte naku telisi future lo loan ravatam kashtam, at the least you won't get lower rates for sure. 

[pandu123b]

25k decrease ki 40k lose avavdam does not make sense.

Market is turning again, mortgage rates are going down.

you should be good, don’t worry about it much 

[Newportagadu]

Don’t worry much the only way you can back out issss… if you loose job or resign and say u don’t have job..