House loans?

Kristie
I just put my house on the market on Saturday. Even though I signed the papers to get the process started, can I change my mind about selling and just refinance the house instead and then put it on the market at the end of this year?

Floyd
Yes, you can always take your home off the market to refinance. If you're having second thoughts this early in the process, I would try to take the house off the market before property was listed on the MLS first. It is becoming more and more rare for banks to refinance people who've had their homes on the market within the past 60 days unless there is a very legitimate excuse. Even then, the refinances are minimal, i.e. limiting debt consolidation etc. talk to a local mortgage broker to explore your refinance options and make the best descision for you.

Carlo
The best thing the seller can do at this point, if the seller isn't highly motivated, is to cancel the listing. Smart realty agents willingly cancel a listing if the seller asks because it is a waste of time to work with an uncooperative seller.Just in case seller's remorse disease strikes, both listing agents and home buyers should understand the possible consequences of a specific performance lawsuit to enforce the sales contract. Since there were no offers made by any buyers, specific performance shouldn't be an issue. Just be honest to the agent, he/she should understand. They're human too.

Bridgette
Yes, but look at your contract first. Also bear in mind that most people looking to buy want to move in the summer. Winter is typically the slowest time for home sales. If the RE slump continues, your home could have alot of days on market.Also, make sure your refinance doesn't include any pre-payment penalties.

Lashonda
that depends on the contract you signed...i think you can just tell them you don't want to sell it now... but you can't deal with a different real estate agent until that contract expires..but if i were you i would never re-finance a home you are only going to be in for 6 more months!! The amount you are going to tack on in fees will never be worth whatever you save per month! If you even save anything, with the market the way it is now your house may not be worth what it was before and you may not even been able to to find someone to re-finance it for you. Of course that all depends on the equity you have in it..i think the general rule is unless you plan on having the new loan longer than 5 years, and unless your interest rate goes down by at least 2%, it's just not worth it. You'll add so much in fees for the re-finance that you'll have to ask for more for your home to cover it and in todays market that may really hurt you!