If you find yourself in a situation of negative equity in your home or investment property…and you have an increasing monthly mortgage payment, you need to Short Sell the property.
This is easy for me to say, however, it’s about quality of life. You and your family are struggling to make that overwhelming payment monthly only to be burdened financially.
In fact, in most areas of the US you can lease a like property to your current home for much less per month. Save the difference and in 2 to 5 years you can purchase again on a “1st time buyer program” (you need to not have owned a property for a minimum of 2 years to be considered in most cases).
Chances are, you can buy that same or like house for upwards of 50% less than what you purchased or refinanced…now that’s smart investing!
Don’t be embarassed or ashamed of your circumstances. We have millionaire clients that are short selling thier mansions as that is the only way they will stay millionaires. They…the millionaires may have made a bad decision to buy or refinance when the times seems unplausibly fantastic..but today, it’s different.
Don’t carry the burden of you decision…you can be forgivin byyour bank or mortgage company and will be much better off in the long run.
Things to remember:
- You don’t pay a Real Estate Brokers commission…the bank pays.
- You’re not the only one…over 50% of homes today are in a negative equity position.
- You don’t have to broadcast your “short sale” with a big, ugly “for sale” sign in your yard…simply have the home listed in MLS and, if priced right the buyers will come.
- If it’s your primary residence, you will not suffer any tax implications because of The Mortgage Relief Act of 2007, where President Bush put into law that these types of losses will not impact your taxes in any manner when you complete the proper forms
- Get the best most experienced Short Sale agent in your area or state…believe me, we are proud of our successes and will share a list of our satisfied clients with you.
- There’s more…just call us…it’s free!
Best,
Kris & Kim
877-391-2338
