March 2011 
There are 1 blog entries for March 2011.
7 Options for Anyone who has "Underwater" Real Estate
Tuesday, March 8th, 2011 at 3:15pm. 1118 Views, 0 Comments.
Approximately one third of everyone who holds a mortgage in the state of California is underwater (meaning they owe more than the house is worth). Short sales account for almost 35% of all sales currently.
OPTION 1: Pay down/Sell-This is an option if you have money to spare. We can sell your home and you pay the difference between what your house sells for and what you owe your lender. The positive to this is you can keep your credit intact. The negative is that you need disposable dollars to do this. OPTION 2: Short Sale-A short sale is where we will sell your home for less than what you owe. We need to negotiate with your lender(s) to accept less than what you owe. It will make a difference if your loan is a purchase money (non-recourse) or…My Account
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