My Loan Is Upside Down
Economics and today’s market conditions have made the prices of homes drop below the purchase price of a year ago.
It’s staggering to think that a home that sold for $300,000 a year ago will appraise and sell in today’s market for $240,000!
Many sellers have just walked away from their property. If the lender forecloses, the lender will only be able to sell the property at or below the appraisal price and the seller will end up with a whopping deficiency judgment (includes late fees, attorney fees, etc.)
One option is a Short Sale and is a process whereby the lender agrees to take less than the amount owed. We recommend this process be done by a Short Sale specialist. Our trained specialist will go over all the options available to you.
In our report “My Loan Is Upside Down” we address every option, from foreclosure to renting.
We do no leave a stone unturned. To receive our report click here.
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