There is a cost to the homeowner.
There is a HUGE difference between “I can’t pay” and “I don’t want to pay”.
"I can't pay"? Work on a short sale which leads to faster financial recovery and the possibility of a new home with an affordable mortgage in just 2 years.
In 2 years?
Yes, only 2 years with a short sale.
Does it make financial sense? It sure could.
That home you bought in 05 for $400K is worth $230K today. Short sale now. Rent and save for 2 years. Buy a similar hoome for $180-$200K in 2 years.
Mortgage balance and payment are now affordable!
Short sale now...buy while the market is still down in 2 years.
“I don’t want to pay” - The Strategic Default group?
If you walk away you may be looking at no homeownership for 7 years!
Scorecard looks like this:
Short Sale with legitimate hardship can rebound in 2 years
Strategic Default with no hardship = 7 years
For a free 25 page report on the "Facts About Short Sales in 2010" just visit our website at:
www.HowToShortSaleNow.com
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