Those few words used to be dreaded by every homeowner who was financially unable to afford their home any longer. But these words are being uttered more and more everyday. Not just by the people who have lost their jobs, but also by the people who have come to realize that they are too far over their heads when it comes to their mortgage. What I mean by that is that they have come to realize that their home is not worth what they paid for it and it's going to be many years until they have the upper hand on their mortgage.
There is good news though. If you are in danger of losing your home you can do what is called a "short sale". What this means is that your mortgage company will allow a buyer to purchase your home for less than what you owe on it. Also, if you can afford your monthly payments but want to downsize this can be an avenue for you as well.
This is a great way to get that nagging feeling of drowning in debt off your back. Also, if you tell your mortgage company you are working on a short sale they will usually stop the foreclosure process. They would rather have you sell your home than take it back. It costs them over $50,000 to foreclose on your home.
If you can relate to either of these situations you need to contact me right away. We at Realty Executives are short sale experts. Let us show you how to take care of this pressing situation in a way that works out best for all involved. Call me at: 616-719-8680
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