In 2011, 1.9 million homes were foreclosed on. In most economic times, that would be a lot of homes, but that was actually the lowest number of foreclosures since 2007.
If you are no longer able to make your home payments, and you owe more on your mortgage than your home is worth, you’re in good company. An estimated one-fourth of all U.S. homeowners are Upside Down on their mortgage—meaning they owe more on their home than they could get from selling it in today’s market.
Often the best solution for homeowners in this situation is a short sale in which the bank agrees to accept less than is owed on the mortgage. The bank doesn’t want to foreclose on your home and short sales are more common than ever before.
The situation is complicated and the stakes are high. Never has it been more important to have a local market advocate on your side.
Contact me today and let’s get started!
Jeff